Republic of Korea: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Republic of Korea

The South Korean market for copper bars, wire and plates reduced sharply to $X in 2021, with a decrease of -18.7% against the previous year. In general, consumption showed a pronounced shrinkage. Copper bars, wire and plates consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Copper Bars, Wire And Plates in Republic of Korea

In value terms, copper bars, wire and plates production reduced to $X in 2021 estimated in export price. Over the period under review, production showed a mild curtailment. The pace of growth appeared the most rapid in 2020 when the production volume increased by 42%. Copper bars, wire and plates production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Copper Bars, Wire And Plates

Exports from Republic of Korea

In 2021, overseas shipments of copper bars, wire and plates were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 15%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates exports soared to $X in 2021. Over the period under review, total exports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), the Philippines (X tons) and the United States (X tons) were the main destinations of copper bars, wire and plates exports from South Korea, together accounting for 46% of total exports. These countries were followed by Vietnam, Japan, Taiwan (Chinese), Thailand, Malaysia, India, Hong Kong SAR, Singapore, Indonesia and Australia, which together accounted for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +13.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for copper bars, wire and plates exported from South Korea were China ($X), the Philippines ($X) and the United States ($X), together accounting for 44% of total exports. Vietnam, Taiwan (Chinese), Japan, Thailand, Malaysia, Hong Kong SAR, India, Indonesia, Singapore and Australia lagged somewhat behind, together accounting for a further 38%.

India, with a CAGR of +12.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for copper bars, wire and plates stood at $X per ton in 2021, jumping by 42% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Vietnam ($X per ton), while the average price for exports to Singapore ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into Republic of Korea

After three years of decline, supplies from abroad of copper bars, wire and plates increased by 48% to X tons in 2021. In general, imports, however, continue to indicate a pronounced curtailment. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates imports soared to $X in 2021. Overall, imports, however, showed a slight shrinkage. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Japan (X tons) and Malaysia (X tons) were the main suppliers of copper bars, wire and plates imports to South Korea, together accounting for 35% of total imports. These countries were followed by Thailand, Bulgaria, Vietnam, Chile, Germany, the United States and France, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +57.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bars, wire and plates suppliers to South Korea were Japan ($X), China ($X) and Thailand ($X), with a combined 39% share of total imports. Bulgaria, Malaysia, Germany, Vietnam, Chile, the United States and France lagged somewhat behind, together accounting for a further 25%.

Bulgaria, with a CAGR of +77.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for copper bars, wire and plates amounted to $X per ton, growing by 20% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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