Singapore: Copper Matte Market 2025

Copper Matte Market Size in Singapore

The Singaporean copper matte market expanded modestly to $X in 2022, increasing by 4.9% against the previous year. In general, consumption, however, continues to indicate a slight decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Copper Matte Production in Singapore

In value terms, copper matte production reduced modestly to $X in 2022 estimated in export price. In general, production showed a mild shrinkage. The most prominent rate of growth was recorded in 2014 when the production volume increased by 8.3%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Copper Matte Exports

Exports from Singapore

In 2022, exports of copper mattes and cement copper from Singapore contracted significantly to X tons, shrinking by -21.4% compared with 2021. In general, exports, however, saw perceptible growth. The growth pace was the most rapid in 2013 with an increase of 173% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, copper matte exports rose sharply to $X in 2022. Over the period under review, exports, however, enjoyed a modest increase. The most prominent rate of growth was recorded in 2017 with an increase of 147%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for copper matte exports from Singapore, with a 63% share of total exports. Moreover, copper matte exports to Australia exceeded the volume sent to the second major destination, South Korea (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia amounted to +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+18.1% per year) and Thailand (-8.3% per year).

In value terms, Australia ($X) remains the key foreign market for copper mattes and cement copper exports from Singapore, comprising 86% of total exports. The second position in the ranking was held by South Korea ($X), with a 9.3% share of total exports. It was followed by China, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia amounted to +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+29.9% per year) and China (+0.6% per year).

Export Prices by Country

In 2022, the average copper matte export price amounted to $X per ton, with an increase of 38% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Thailand ($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 China (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Matte Imports

Imports into Singapore

In 2022, purchases abroad of copper mattes and cement copper decreased by -42.2% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,844%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, copper matte imports fell significantly to $X in 2022. Overall, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 275% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest copper matte supplier to Singapore, accounting for a 63% share of total imports. Moreover, copper matte imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +37.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.1% per year) and the United States (-10.0% per year).

In value terms, the largest copper matte suppliers to Singapore were China ($X), Japan ($X) and the United States ($X), together comprising 97% of total imports.

In terms of the main suppliers, China, with a CAGR of +39.4%, saw 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 copper matte import price amounted to $X per ton, waning by -42.8% against the previous year. Over the period under review, the import price saw a slight contraction. The pace of growth was the most pronounced in 2019 an increase of 331%. Over the period under review, average import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+48.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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