Ukraine: Refined Copper Market 2025

Refined Copper Market Size in Ukraine

The Ukrainian refined copper market skyrocketed to $X in 2022, picking up by 61% against the previous year. In general, consumption recorded buoyant growth. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in years to come.

Refined Copper Production in Ukraine

In value terms, refined copper production fell modestly to $X in 2022 estimated in export price. In general, production, however, recorded a slight shrinkage. The pace of growth appeared the most rapid in 2017 when the production volume increased by 63%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Refined Copper Exports

Exports from Ukraine

Refined copper exports from Ukraine dropped sharply to X tons in 2022, which is down by -87.4% compared with 2021. Over the period under review, exports continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2021 with an increase of 151% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined copper exports contracted sharply to $X in 2022. In general, exports saw a deep reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 145% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey (X tons), Germany (X tons) and Moldova (X tons) were the main destinations of refined copper exports from Ukraine.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +8.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for refined copper exported from Ukraine were Turkey ($X), Germany ($X) and Moldova ($X).

Germany, with a CAGR of +1.0%, saw the highest rates of growth with regard to 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 refined copper export price stood at $X per ton in 2022, increasing by 111% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +9.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Moldova ($X per ton), while the average price for exports to Germany ($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 the Czech Republic (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Copper Imports

Imports into Ukraine

In 2022, supplies from abroad of refined copper (unwrought, not alloyed) decreased by -97.4% to X tons, falling for the fifth year in a row after two years of growth. Overall, imports showed a precipitous decline. The pace of growth appeared the most rapid in 2017 with an increase of 495%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, refined copper imports shrank dramatically to $X in 2022. In general, imports continue to indicate a dramatic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 541% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Poland (X tons), the United States (X tons) and Italy (X kg) were the main suppliers of refined copper imports to Ukraine, together accounting for 100% of total imports. Moreover, refined copper imports in Poland exceeded the figures recorded by the second-largest supplier, the United States, twofold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +19.9%), while imports for the other leaders experienced a decline.

In value terms, Poland ($X) constituted the largest supplier of refined copper (unwrought, not alloyed) to Ukraine, comprising 65% of total imports. The second position in the ranking was held by the United States ($X), with a 31% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland amounted to -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+11.6% per year) and Italy (-9.5% per year).

Import Prices by Country

In 2022, the average refined copper import price amounted to $X per ton, surging by 22% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.4% 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 +89.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 51%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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