Turkey: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Turkey

In 2021, the Turkish copper ores and concentrates market decreased by -7.3% to $X, falling for the third year in a row after five years of growth. Over the period under review, consumption, however, showed a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Copper Ores And Concentrates in Turkey

In value terms, copper ores and concentrates production contracted modestly to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 20% against the previous year. Copper ores and concentrates production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Copper Ores And Concentrates

Exports from Turkey

In 2021, overseas shipments of copper ores and concentrates increased by 2.4% to X tons, rising for the third consecutive year after five years of decline. Over the period under review, exports, however, continue to indicate a slight downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 63%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, copper ores and concentrates exports soared to $X in 2021. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 74% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bulgaria (X tons), China (X tons) and Sweden (X tons) were the main destinations of copper ores and concentrates exports from Turkey, together accounting for 87% of total exports. These countries were followed by Malaysia, Germany and Georgia, which together accounted for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +314.9%), while the other leaders experienced more modest paces of growth.

In value terms, Bulgaria ($X) remains the key foreign market for copper ores and concentrates exports from Turkey, comprising 49% of total exports. The second position in the ranking was held by Sweden ($X), with a 19% share of total exports. It was followed by China, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bulgaria stood at +29.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+7.3% per year) and China (-11.7% per year).

Export Prices by Country

The average copper ores and concentrates export price stood at $X per ton in 2021, surging by 46% against the previous year. Over the period under review, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.4% 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 ores and concentrates export price increased by +55.8% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Malaysia ($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 India (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Ores And Concentrates

Imports into Turkey

In 2021, the amount of copper ores and concentrates imported into Turkey fell to X tons, declining by -10.2% compared with the year before. In general, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2018 with an increase of 94,661% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, copper ores and concentrates imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2018 when imports increased by 143,921% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Chile (X tons) was the main supplier of copper ores and concentrates to Turkey, with a 96% share of total imports. Moreover, copper ores and concentrates imports from Chile exceeded the figures recorded by the second-largest supplier, Armenia (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Chile stood at -15.4%.

In value terms, Chile ($X) constituted the largest supplier of copper ores and concentrates to Turkey, comprising 97% of total imports. The second position in the ranking was taken by Armenia ($X), with a 2.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Chile stood at -7.9%.

Import Prices by Country

The average copper ores and concentrates import price stood at $X per ton in 2021, surging by 41% against the previous year. Overall, the import price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 an increase of 1,026%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Chile ($X per ton), while the price for Armenia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Armenia (+30.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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