Sri Lanka: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Sri Lanka

The Sri Lankan market for copper bars, rods and profiles totaled $X in 2022, with an increase of 2.2% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Copper Bars, Rods and Profiles in Sri Lanka

In value terms, copper bar, rod and profile production rose slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2017 with an increase of 13% against the previous year. Copper bar, rod and profile production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Sri Lanka

In 2022, shipments abroad of copper bars, rods and profiles decreased by -99.6% to X kg, falling for the fourth year in a row after two years of growth. In general, exports recorded a sharp reduction. The pace of growth was the most pronounced in 2017 when exports increased by 278% 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 bar, rod and profile exports shrank dramatically to $X in 2022. Over the period under review, exports saw a sharp shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 379%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Maldives (X kg) was the main destination for copper bar, rod and profile exports from Sri Lanka, with a 98% share of total exports. It was followed by the United Arab Emirates (X kg), with a 1.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives totaled -2.2%.

In value terms, Maldives ($X) emerged as the key foreign market for copper bars, rods and profiles exports from Sri Lanka, comprising 98% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 2.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Maldives stood at -7.1%.

Export Prices by Country

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, shrinking by -24.7% against the previous year. Over the period under review, the export price showed a pronounced descent. The pace of growth was the most pronounced in 2017 an increase of 27%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Maldives stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-1.5%), while the prices for the other major destinations experienced a decline.

Imports of Copper Bars, Rods and Profiles

Imports into Sri Lanka

In 2022, imports of copper bars, rods and profiles into Sri Lanka fell to X tons, reducing by -12.3% compared with the previous year's figure. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -38.3% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 92% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, copper bar, rod and profile imports reduced modestly to $X in 2022. In general, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 81%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), Taiwan (Chinese) (X tons) and India (X tons) were the main suppliers of copper bar, rod and profile imports to Sri Lanka, together accounting for 71% of total imports. Malaysia, China, Thailand, Indonesia, the United Arab Emirates and Singapore lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +27.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Taiwan (Chinese) ($X) and India ($X) were the largest copper bar, rod and profile suppliers to Sri Lanka, together accounting for 68% of total imports. Malaysia, China, Thailand, Indonesia, the United Arab Emirates and Singapore lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Indonesia, with a CAGR of +29.8%, recorded 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

The average import price for copper bars, rods and profiles stood at $X per ton in 2022, surging by 8.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2021 an increase of 40%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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