Russian Federation: Copper Matte Market 2025

Copper Matte Market Size in the Russian Federation

In 2022, the Russian copper matte market decreased by -1.5% to $X, falling for the second year in a row after two years of growth. In general, consumption enjoyed a significant expansion. Copper matte consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Copper Matte Exports

Exports from the Russian Federation

In 2022, after three years of decline, there was significant growth in overseas shipments of copper mattes and cement copper, when their volume increased by 434% to X tons. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 13,539% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, copper matte exports soared to $X in 2022. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 20,491% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Kazakhstan (X tons) was the main destination for copper matte exports from Russia, accounting for a 82% share of total exports. Moreover, copper matte exports to Kazakhstan exceeded the volume sent to the second major destination, Finland (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kazakhstan totaled +26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (0.0% per year) and the Netherlands (+92.5% per year).

In value terms, Kazakhstan ($X) remains the key foreign market for copper mattes and cement copper exports from Russia, comprising 88% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 4.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Kazakhstan totaled +29.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+152.7% per year) and Finland (0.0% per year).

Export Prices by Country

The average copper matte export price stood at $X per ton in 2022, falling by -53.3% against the previous year. In general, the export price, however, posted mild growth. The pace of growth appeared the most rapid in 2021 an increase of 122%. As a result, the export price attained the peak level of $X per ton, and then shrank dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Matte Imports

Imports into the Russian Federation

In 2022, approx. X tons of copper mattes and cement copper were imported into Russia; picking up by 5.7% compared with 2021. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 352% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, copper matte imports fell to $X in 2022. In general, imports recorded a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 208% against the previous year. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Chile (X tons) and Finland (X tons) were the main suppliers of copper matte imports to Russia.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of +28.4%).

In value terms, Finland ($X) constituted the largest supplier of copper mattes and cement copper to Russia, comprising 82% of total imports. The second position in the ranking was taken by Chile ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Finland totaled +18.4%.

Import Prices by Country

In 2022, the average copper matte import price amounted to $X per ton, shrinking by -10.2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 59% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then fell in the following year.

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 Finland ($X per ton), while the price for Chile totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+35.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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