Portugal: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Portugal

In 2022, the Portuguese market for copper bars, rods and profiles decreased by -25.1% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption recorded a deep reduction. Copper bar, rod and profile consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Copper Bars, Rods and Profiles in Portugal

In value terms, copper bar, rod and profile production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced shrinkage. The growth pace was the most rapid in 2020 with an increase of 35%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Portugal

For the third year in a row, Portugal recorded growth in overseas shipments of copper bars, rods and profiles, which increased by 28% to X tons in 2022. In general, exports saw resilient growth. The pace of growth was the most pronounced in 2016 when exports increased by 494% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, copper bar, rod and profile exports soared to $X in 2022. Overall, exports showed a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by 211% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

Germany (X tons) was the main destination for copper bar, rod and profile exports from Portugal, accounting for a 67% share of total exports. Moreover, copper bar, rod and profile exports to Germany exceeded the volume sent to the second major destination, Spain (X tons), sevenfold. France (X tons) ranked third in terms of total exports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-9.2% per year) and France (+36.9% per year).

In value terms, Germany ($X) remains the key foreign market for copper bars, rods and profiles exports from Portugal, comprising 66% of total exports. The second position in the ranking was taken by Spain ($X), with a 9.3% share of total exports. It was followed by France, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-2.5% per year) and France (+40.2% per year).

Export Prices by Country

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, rising by 8.8% against the previous year. In general, the export price enjoyed a moderate increase. The pace of growth appeared the most rapid in 2014 when the average export price increased by 42%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Spain ($X per ton) and Belgium ($X per ton), while the average price for exports to the UK ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Portugal

Copper bar, rod and profile imports into Portugal reduced to X tons in 2022, declining by -9.1% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 41%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, copper bar, rod and profile imports reached $X in 2022. Overall, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 65%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), Italy (X tons) and France (X tons) were the main suppliers of copper bar, rod and profile imports to Portugal, together accounting for 89% of total imports. Germany, Switzerland, Bulgaria and Greece lagged somewhat behind, together accounting for a further 7%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +105.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and France ($X) appeared to be the largest copper bar, rod and profile suppliers to Portugal, together comprising 83% of total imports. Germany, Switzerland, Bulgaria and Greece lagged somewhat behind, together accounting for a further 11%.

Among the main suppliers, Switzerland, with a CAGR of +93.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for copper bars, rods and profiles amounted to $X per ton, rising by 10% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 30% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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