Saudi Arabia: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Saudi Arabia

The Saudi market for copper bars, rods and profiles was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, continues to indicate a sharp shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Saudi Arabia

In 2022, approx. X tons of copper bars, rods and profiles were exported from Saudi Arabia; picking up by 16% compared with 2021 figures. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 317%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, copper bar, rod and profile exports rose to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 307%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Egypt (X tons) was the main destination for copper bar, rod and profile exports from Saudi Arabia, with a 51% share of total exports. Moreover, copper bar, rod and profile exports to Egypt exceeded the volume sent to the second major destination, Italy (X tons), twofold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Egypt totaled +74.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-4.4% per year) and the United Arab Emirates (+1.2% per year).

In value terms, Egypt ($X) remains the key foreign market for copper bars, rods and profiles exports from Saudi Arabia, comprising 47% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 21% share of total exports. It was followed by Italy, with a 20% share.

From 2012 to 2022, the average annual growth rate of value to Egypt totaled +72.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+3.3% per year) and Italy (-3.9% per year).

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, waning by -12.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2021 an increase of 27%. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Morocco ($X per ton) and the United Arab Emirates ($X per ton), while the average price for exports to Italy ($X per ton) and Egypt ($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 Morocco (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Saudi Arabia

In 2022, purchases abroad of copper bars, rods and profiles was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a sharp contraction. The pace of growth was the most pronounced in 2019 when imports increased by 571% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, copper bar, rod and profile imports reached $X in 2022. In general, imports, however, recorded a dramatic setback. The most prominent rate of growth was recorded in 2019 with an increase of 467%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest copper bar, rod and profile supplier to Saudi Arabia, with a 83% share of total imports. Moreover, copper bar, rod and profile imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was taken by Malaysia (X tons), with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to -22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-13.8% per year) and Malaysia (-29.5% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of copper bars, rods and profiles to Saudi Arabia, comprising 80% of total imports. The second position in the ranking was taken by India ($X), with a 7.1% share of total imports. It was followed by Malaysia, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at -24.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-10.8% per year) and Malaysia (-29.8% per year).

Import Prices by Country

In 2022, the average import price for copper bars, rods and profiles amounted to $X per ton, falling by -12.9% against the previous year. In general, the import price recorded a pronounced slump. The most prominent rate of growth was recorded in 2021 an increase of 21% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the price for the United Arab Emirates ($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 (+13.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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