United Kingdom: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in the UK

In 2021, the UK market for copper bars, wire and plates was finally on the rise to reach $X after three years of decline. Over the period under review, consumption showed a perceptible decline. Copper bars, wire and plates consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Copper Bars, Wire And Plates in the UK

In value terms, copper bars, wire and plates production rose notably to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2018 when the production volume increased by 13% against the previous year. 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 UK

For the fourth year in a row, the UK recorded decline in overseas shipments of copper bars, wire and plates, which decreased by -15.9% to X tons in 2021. Over the period under review, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of 17% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, copper bars, wire and plates exports skyrocketed to $X in 2021. Overall, exports showed a perceptible contraction. The growth pace was the most rapid in 2017 with an increase of 22%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons), the United States (X tons) and Ireland (X tons) were the main destinations of copper bars, wire and plates exports from the UK, with a combined 55% share of total exports. These countries were followed by the United Arab Emirates, Italy, Spain, France, Qatar, Hong Kong SAR, Belgium, Saudi Arabia and Kuwait, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +18.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for copper bars, wire and plates exported from the UK were Germany ($X), the United States ($X) and Ireland ($X), together accounting for 56% of total exports. These countries were followed by Italy, Spain, France, the United Arab Emirates, Hong Kong SAR, Qatar, Saudi Arabia, Belgium and Kuwait, which together accounted for a further 28%.

In terms of the main countries of destination, Qatar, with a CAGR of +17.0%, 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, wire and plates stood at $X per ton in 2021, picking up by 37% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. As a result, the export price reached 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 France ($X per ton), while the average price for exports to the United Arab Emirates ($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 Kuwait (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into the UK

In 2021, the amount of copper bars, wire and plates imported into the UK shrank to X tons, declining by -10.5% compared with the previous year. In general, imports recorded a noticeable decline. The growth pace was the most rapid in 2014 with an increase of 18%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, copper bars, wire and plates imports soared to $X in 2021. Overall, imports continue to indicate a noticeable decrease. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Belgium (X tons), Germany (X tons) and France (X tons) were the main suppliers of copper bars, wire and plates imports to the UK, together accounting for 66% of total imports. These countries were followed by Turkey, Italy, Bulgaria, Finland, Sweden, Spain and Russia, which together accounted for a further 27%.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +7.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and Turkey ($X) constituted the largest copper bars, wire and plates suppliers to the UK, with a combined 67% share of total imports. France, Bulgaria, Italy, Finland, Sweden, Spain and Russia lagged somewhat behind, together comprising a further 26%.

Finland, with a CAGR of +7.6%, recorded the highest growth rate of the value of imports, among the main suppliers 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, wire and plates stood at $X per ton in 2021, surging by 48% against the previous year. In general, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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