Thailand: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Thailand

The Thai copper ores and concentrates market declined remarkably to $X in 2021, reducing by -50.5% against the previous year. Over the period under review, consumption, however, recorded a significant increase. Copper ores and concentrates consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Copper Ores And Concentrates in Thailand

In value terms, copper ores and concentrates production rose slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 4.8% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Copper Ores And Concentrates

Exports from Thailand

In 2021, overseas shipments of copper ores and concentrates increased by 183% to X tons, rising for the third consecutive year after two years of decline. Overall, exports recorded prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 693,788%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, copper ores and concentrates exports skyrocketed to $X in 2021. In general, exports posted a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 24,575% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for copper ores and concentrates exports from Thailand, accounting for a 88% share of total exports. Moreover, copper ores and concentrates exports to China exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to China totaled +18.0%.

In value terms, China ($X) remains the key foreign market for copper ores and concentrates exports from Thailand, comprising 87% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +28.8%.

Export Prices by Country

In 2021, the average copper ores and concentrates export price amounted to $X per ton, picking up by 36% against the previous year. In general, the export price posted measured growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by 1,961%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Lao People's Democratic Republic totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.1%).

Imports of Copper Ores And Concentrates

Imports into Thailand

In 2021, approx. X tons of copper ores and concentrates were imported into Thailand; picking up by 157% compared with 2020. Overall, imports posted resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 3,141%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, copper ores and concentrates imports skyrocketed to $X in 2021. In general, imports showed a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 2,031% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Lao People's Democratic Republic (X tons), Myanmar (X tons) and Japan (X tons) were the main suppliers of copper ores and concentrates imports to Thailand.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Myanmar (with a CAGR of +188.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X), Lao People's Democratic Republic ($X) and Japan ($X) appeared to be the largest copper ores and concentrates suppliers to Thailand.

In terms of the main suppliers, Myanmar, with a CAGR of +101.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average copper ores and concentrates import price amounted to $X per ton, increasing by 15% against the previous year. In general, the import price, however, recorded a slight reduction. The growth pace was the most rapid in 2015 an increase of 587% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (-9.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform