Serbia: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Serbia

The Serbian market for copper bars, rods and profiles expanded significantly to $X in 2022, surging by 13% against the previous year. In general, consumption, however, continues to indicate a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Copper Bars, Rods and Profiles in Serbia

In value terms, copper bar, rod and profile production amounted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of 39%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Copper Bars, Rods and Profiles

Exports from Serbia

In 2022, the amount of copper bars, rods and profiles exported from Serbia reduced to X tons, shrinking by -11% compared with the previous year's figure. Over the period under review, exports saw a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 34% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile exports dropped to $X in 2022. In general, exports recorded a noticeable downturn. The pace of growth appeared the most rapid in 2021 with an increase of 92% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for copper bar, rod and profile exports from Serbia, with a 33% share of total exports. Moreover, copper bar, rod and profile exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, the UK (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina totaled +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+6.0% per year) and Germany (-3.8% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for copper bars, rods and profiles exports from Serbia, comprising 33% of total exports. The second position in the ranking was taken by Germany ($X), with a 14% share of total exports. It was followed by Spain, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina totaled +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-1.9% per year) and Spain (+28.4% per year).

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, with an increase of 8.6% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile export price increased by +55.6% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 43%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Russia ($X per ton) and Spain ($X per ton), while the average price for exports to the UK ($X per ton) and the Czech Republic ($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 Italy (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Serbia

In 2022, approx. X tons of copper bars, rods and profiles were imported into Serbia; with a decrease of -3.8% against 2021 figures. Over the period under review, imports, however, continue to indicate a moderate expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 206%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, copper bar, rod and profile imports expanded to $X in 2022. Overall, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 213% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of copper bar, rod and profile to Serbia, accounting for a 40% share of total imports. Moreover, copper bar, rod and profile imports from Turkey exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), twofold. Greece (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +269.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+0.1% per year) and Greece (-8.6% per year).

In value terms, Turkey ($X), Bulgaria ($X) and Belgium ($X) appeared to be the largest copper bar, rod and profile suppliers to Serbia, together accounting for 67% of total imports.

Turkey, with a CAGR of +219.4%, recorded the highest growth rate of the value of imports, among 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 2022, the average import price for copper bars, rods and profiles amounted to $X per ton, with an increase of 7.1% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile import price increased by +36.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 33%. The import price peaked in 2022 and is expected to retain 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 ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform