South Africa: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in South Africa

The South African market for copper bars, wire and plates soared to $X in 2021, with an increase of 72% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a remarkable increase. Copper bars, wire and plates consumption peaked in 2021 and is likely to see steady growth in years to come.

Exports of Copper Bars, Wire And Plates

Exports from South Africa

For the fourth year in a row, South Africa recorded decline in shipments abroad of copper bars, wire and plates, which decreased by -6% to X tons in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 184%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, copper bars, wire and plates exports rose sharply to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 125% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, 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 bars, wire and plates exports from South Africa, with a 45% share of total exports. Moreover, copper bars, wire and plates exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), sixfold. Australia (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+58.1% per year) and Australia (+3.7% per year).

In value terms, the United States ($X) emerged as the key foreign market for copper bars, wire and plates exports from South Africa, comprising 42% of total exports. The second position in the ranking was held by the Netherlands ($X), with an 8.1% share of total exports. It was followed by Australia, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+66.1% per year) and Australia (+6.4% per year).

Export Prices by Country

The average export price for copper bars, wire and plates stood at $X per ton in 2021, growing by 22% against the previous year. Overall, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper bars, wire and plates export price increased by +82.8% against 2016 indices. The pace of growth appeared the most rapid in 2017 an increase of 24% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Namibia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into South Africa

Copper bars, wire and plates imports into South Africa skyrocketed to X tons in 2021, growing by 25% on the year before. Overall, imports recorded a strong increase. The pace of growth was the most pronounced in 2015 when imports increased by 58% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, copper bars, wire and plates imports surged to $X in 2021. Over the period under review, imports showed a strong expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 83% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

The United Arab Emirates (X tons), Russia (X tons) and Belgium (X tons) were the main suppliers of copper bars, wire and plates imports to South Africa, with a combined 82% share of total imports. These countries were followed by Zambia, Turkey, South Korea and Germany, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +62.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bars, wire and plates suppliers to South Africa were the United Arab Emirates ($X), Russia ($X) and Belgium ($X), with a combined 82% share of total imports. Zambia, South Korea, Turkey and Germany lagged somewhat behind, together comprising a further 14%.

Turkey, with a CAGR of +67.3%, recorded the highest rates of growth with regard to 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 2021, the average import price for copper bars, wire and plates amounted to $X per ton, with an increase of 46% against the previous year. In general, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper bars, wire and plates import price increased by +61.1% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from South Korea ($X per ton) and the United Arab Emirates ($X per ton), while the price for Belgium ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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