South Africa: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in South Africa

The South African market for copper bars, rods and profiles stood at $X in 2022, increasing by 4.3% against the previous year. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Production of Copper Bars, Rods and Profiles in South Africa

In value terms, copper bar, rod and profile production stood at $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from South Africa

For the fifth consecutive year, South Africa recorded decline in overseas shipments of copper bars, rods and profiles, which decreased by -31.3% to X tons in 2022. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 118%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, copper bar, rod and profile exports dropped notably to $X in 2022. Over the period under review, exports recorded a perceptible decrease. The pace of growth appeared the most rapid in 2017 when exports increased by 78%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for copper bar, rod and profile exports from South Africa, with a 47% share of total exports. Moreover, copper bar, rod and profile exports to the United States exceeded the volume sent to the second major destination, Indonesia (X tons), fivefold. China (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-3.2% per year) and China (-12.7% per year).

In value terms, the United States ($X) remains the key foreign market for copper bars, rods and profiles exports from South Africa, comprising 46% of total exports. The second position in the ranking was held by Indonesia ($X), with an 8.6% share of total exports. It was followed by China, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+1.1% per year) and China (-9.9% per year).

Export Prices by Country

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, growing by 8.3% against the previous year. Over the period under review, export price indicated mild growth 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 +85.6% against 2016 indices. The pace of growth was the most pronounced in 2017 an increase of 25% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+28.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into South Africa

In 2022, after four years of decline, there was significant growth in supplies from abroad of copper bars, rods and profiles, when their volume increased by 75% to X tons. In general, imports, however, saw a mild decrease. The pace of growth appeared the most rapid in 2016 when imports increased by 90%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, copper bar, rod and profile imports surged to $X in 2022. Overall, imports, however, showed a noticeable reduction. The growth pace was the most rapid in 2017 with an increase of 75%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest copper bar, rod and profile supplier to South Africa, with a 56% share of total imports. Moreover, copper bar, rod and profile imports from India exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a 6% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled +39.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.7% per year) and South Korea (+61.4% per year).

In value terms, India ($X) constituted the largest supplier of copper bars, rods and profiles to South Africa, comprising 39% of total imports. The second position in the ranking was taken by Germany ($X), with an 18% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at +30.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.2% per year) and South Korea (+57.3% per year).

Import Prices by Country

The average import price for copper bars, rods and profiles stood at $X per ton in 2022, dropping by -19.7% against the previous year. Over the period under review, the import price showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 29%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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