Uganda: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Uganda

The Ugandan market for copper bars, rods and profiles fell remarkably to $X in 2022, shrinking by -27.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a resilient increase. Copper bar, rod and profile consumption peaked at $X in 2021, and then dropped sharply in the following year.

Exports of Copper Bars, Rods and Profiles

Exports from Uganda

In 2022, overseas shipments of copper bars, rods and profiles were finally on the rise to reach X kg for the first time since 2018, thus ending a three-year declining trend. In general, exports saw strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 555%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, copper bar, rod and profile exports surged to $X in 2022. Over the period under review, exports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 543% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sudan (X kg) was the main destination for copper bar, rod and profile exports from Uganda, accounting for a 86% share of total exports. Moreover, copper bar, rod and profile exports to Sudan exceeded the volume sent to the second major destination, Kenya (X kg), tenfold. The third position in this ranking was held by Democratic Republic of the Congo (X kg), with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sudan totaled +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (-0.3% per year) and Democratic Republic of the Congo (+28.2% per year).

In value terms, the largest markets for copper bar, rod and profile exported from Uganda were Democratic Republic of the Congo ($X), Sudan ($X) and Kenya ($X), together comprising 90% of total exports.

In terms of the main countries of destination, Democratic Republic of the Congo, with a CAGR of +44.3%, recorded 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

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, waning by -31.3% against the previous year. In general, the export price, however, recorded noticeable growth. The growth pace was the most rapid in 2021 when the average export price increased by 88% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Sudan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (+42.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Uganda

In 2022, imports of copper bars, rods and profiles into Uganda contracted rapidly to X tons, with a decrease of -34.9% compared with 2021 figures. In general, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by 140%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, copper bar, rod and profile imports declined significantly to $X in 2022. Over the period under review, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 194%. Over the period under review, imports hit record highs at $X in 2021, and then dropped markedly in the following year.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and India (X tons) were the main suppliers of copper bar, rod and profile imports to Uganda, together comprising 96% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +16.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bar, rod and profile suppliers to Uganda were China ($X), India ($X) and the United Arab Emirates ($X), with a combined 90% share of total imports.

In terms of the main suppliers, China, with a CAGR of +24.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for copper bars, rods and profiles stood at $X per ton in 2022, surging by 19% against the previous year. In general, the import price, however, showed a perceptible downturn. The pace of growth appeared the most rapid in 2018 an increase of 32% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform