United Kingdom: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in the UK

In 2022, the UK market for copper bars, rods and profiles increased by 2.1% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Copper bar, rod and profile consumption peaked in 2022 and is likely to see gradual growth in years to come.

Production of Copper Bars, Rods and Profiles in the UK

In value terms, copper bar, rod and profile production reduced modestly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 28%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Copper Bars, Rods and Profiles

Exports from the UK

In 2022, overseas shipments of copper bars, rods and profiles were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a abrupt shrinkage. The exports peaked at X tons in 2012; however, from 2013 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, however, recorded a deep reduction. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X tons), Ireland (X tons) and the United Arab Emirates (X tons) were the main destinations of copper bar, rod and profile exports from the UK, together comprising 54% of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +58.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), Belgium ($X) and the United States ($X) constituted the largest markets for copper bar, rod and profile exported from the UK worldwide, together accounting for 42% of total exports.

Among the main countries of destination, Belgium, with a CAGR of +52.3%, 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, surging by 4.8% against the previous year. In general, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile export price increased by +78.6% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 55% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into the UK

In 2022, supplies from abroad of copper bars, rods and profiles decreased by -3.5% to X tons, falling for the fourth consecutive year after three years of growth. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 12%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, copper bar, rod and profile imports expanded notably to $X in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 40% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), France (X tons) and Belgium (X tons) were the main suppliers of copper bar, rod and profile imports to the UK, with a combined 63% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +53.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bar, rod and profile suppliers to the UK were Germany ($X), France ($X) and Belgium ($X), together comprising 59% of total imports.

Among the main suppliers, Belgium, with a CAGR of +53.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for copper bars, rods and profiles stood at $X per ton in 2022, picking up by 16% against the previous year. In general, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile import price increased by +74.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 51% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bulgaria ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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