Sweden: Refined Copper Market 2024

Refined Copper Market Size in Sweden

The Swedish refined copper market fell to $X in 2022, which is down by -15% against the previous year. Over the period under review, consumption showed a deep setback. Refined copper consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Refined Copper Production in Sweden

In value terms, refined copper production dropped slightly to $X in 2022 estimated in export price. In general, production showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 2.3%. Refined copper production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Refined Copper Exports

Exports from Sweden

In 2022, the amount of refined copper (unwrought, not alloyed) exported from Sweden surged to X tons, rising by 16% compared with 2021. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 83%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined copper exports rose rapidly to $X in 2022. In general, total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +135.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 90%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X tons), Italy (X tons) and the Netherlands (X tons) were the main destinations of refined copper exports from Sweden, with a combined 97% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +35.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for refined copper exported from Sweden were Germany ($X), Italy ($X) and the Netherlands ($X), with a combined 97% share of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +34.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refined copper export price amounted to $X per ton, dropping by -6.7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 49% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Belgium ($X per ton) and Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+0.9%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Copper Imports

Imports into Sweden

Refined copper imports into Sweden reduced markedly to X tons in 2022, which is down by -18.6% compared with 2021 figures. In general, imports recorded a deep slump. The pace of growth appeared the most rapid in 2015 when imports increased by 878% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, refined copper imports shrank rapidly to $X in 2022. Overall, imports recorded a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 551%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Norway (X tons) was the main refined copper supplier to Sweden, with a 98% share of total imports. It was followed by Finland (X tons), with a 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Norway amounted to -9.5%.

In value terms, Norway ($X) constituted the largest supplier of refined copper (unwrought, not alloyed) to Sweden, comprising 97% of total imports. The second position in the ranking was taken by Finland ($X), with a 0.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Norway stood at -8.4%.

Import Prices by Country

The average refined copper import price stood at $X per ton in 2022, falling by -2.1% against the previous year. In general, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined copper import price increased by +50.7% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 52% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped modestly in the following year.

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 Finland ($X per ton), while the price for Norway amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+5.5%).

Source: IndexBox Platform

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