Sri Lanka: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Sri Lanka

After two years of decline, the Sri Lankan market for copper bars, wire and plates increased by 58% to $X in 2021. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Copper Bars, Wire And Plates

Exports from Sri Lanka

In 2021, overseas shipments of copper bars, wire and plates decreased by -1.7% to X tons, falling for the third year in a row after four years of growth. Overall, exports saw a slight decrease. The growth pace was the most rapid in 2016 with an increase of 91% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, copper bars, wire and plates exports amounted to $X in 2021. Over the period under review, exports recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2016 when exports increased by 60%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for copper bars, wire and plates exports from Sri Lanka, with a 88% share of total exports. Moreover, copper bars, wire and plates exports to India exceeded the volume sent to the second major destination, Pakistan (X tons), more than tenfold. The third position in this ranking was held by Vietnam (X tons), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to India amounted to -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (-41.9% per year) and Vietnam (+33.8% per year).

In value terms, India ($X) remains the key foreign market for copper bars, wire and plates exports from Sri Lanka, comprising 83% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 9% share of total exports. It was followed by Vietnam, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India amounted to -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (-12.6% per year) and Vietnam (+32.3% per year).

Export Prices by Country

The average export price for copper bars, wire and plates stood at $X per ton in 2021, increasing by 8.5% against the previous year. Overall, the export price, however, continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2017 an increase of 17%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, 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 Pakistan ($X per ton), while the average price for exports to the United Arab Emirates ($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 Pakistan (+50.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Copper Bars, Wire And Plates

Imports into Sri Lanka

In 2021, purchases abroad of copper bars, wire and plates was finally on the rise to reach X tons after two years of decline. Over the period under review, imports recorded a relatively flat trend pattern. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, copper bars, wire and plates imports skyrocketed to $X in 2021. In general, total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of copper bars, wire and plates to Sri Lanka, accounting for a 60% share of total imports. Moreover, copper bars, wire and plates imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Australia (X tons) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-8.6% per year) and Australia (+12.6% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of copper bars, wire and plates to Sri Lanka, comprising 63% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports. It was followed by Australia, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.8% per year) and Australia (+14.1% per year).

Import Prices by Country

The average import price for copper bars, wire and plates stood at $X per ton in 2021, with an increase of 50% against the previous year. In general, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.3% 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 +56.1% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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