U.S.: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in the U.S.

The U.S. market for copper bars, wire and plates fell modestly to $X in 2021, which is down by -2.1% against the previous year. In general, consumption recorded a noticeable decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Copper Bars, Wire And Plates in the U.S.

In value terms, copper bars, wire and plates production shrank slightly to $X in 2021. Overall, production showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 11%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Copper Bars, Wire And Plates

Exports from the U.S.

In 2021, shipments abroad of copper bars, wire and plates was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, copper bars, wire and plates exports soared to $X in 2021. In general, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), Canada (X tons) and China (X tons) were the main destinations of copper bars, wire and plates exports from the United States, with a combined 92% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +1.5%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for copper bars, wire and plates exported from the United States were Mexico ($X), Canada ($X) and China ($X), with a combined 86% share of total exports.

Mexico, with a CAGR of +2.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for copper bars, wire and plates stood at $X per ton in 2021, jumping by 29% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Canada ($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 China (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into the U.S.

After two years of decline, overseas purchases of copper bars, wire and plates increased by 29% to X tons in 2021. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, copper bars, wire and plates imports surged to $X in 2021. Overall, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Canada (X tons) constituted the largest supplier of copper bars, wire and plates to the United States, with a 51% share of total imports. Moreover, copper bars, wire and plates imports from Canada exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was taken by Peru (X tons), with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume from Canada totaled +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.5% per year) and Peru (+3.1% per year).

In value terms, Canada ($X) constituted the largest supplier of copper bars, wire and plates to the United States, comprising 48% of total imports. The second position in the ranking was taken by Germany ($X), with a 17% share of total imports. It was followed by Peru, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value from Canada amounted to +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.5% per year) and Peru (+5.3% per year).

Import Prices by Country

The average import price for copper bars, wire and plates stood at $X per ton in 2021, jumping by 35% against the previous year. Overall, the import price recorded a relatively flat trend pattern. 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 France ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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