United Kingdom: Copper Matte Market 2024

Copper Matte Market Size in the UK

The UK copper matte market shrank remarkably to $X in 2022, waning by -60.2% against the previous year. In general, consumption showed a drastic downturn. Copper matte consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Copper Matte Production in the UK

In value terms, copper matte production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 18% against the previous year. Copper matte production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Copper Matte Exports

Exports from the UK

In 2022, shipments abroad of copper mattes and cement copper increased by 36% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 2,257%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, copper matte exports contracted remarkably to $X in 2022. Overall, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 932%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Finland (X tons) was the main destination for copper matte exports from the UK, with a 76% share of total exports. Moreover, copper matte exports to Finland exceeded the volume sent to the second major destination, Germany (X tons), tenfold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume to Finland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+61.2% per year) and the United Arab Emirates (+55.5% per year).

In value terms, Finland ($X) emerged as the key foreign market for copper mattes and cement copper exports from the UK, comprising 19% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.1% share of total exports. It was followed by Germany, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Finland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+22.2% per year) and Germany (+54.5% per year).

Export Prices by Country

The average copper matte export price stood at $X per ton in 2022, falling by -59.7% against the previous year. Overall, the export price faced a abrupt decline. The pace of growth appeared the most rapid in 2014 an increase of 92%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Finland ($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 Spain (+84.5%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Matte Imports

Imports into the UK

Copper matte imports into the UK fell rapidly to X tons in 2022, which is down by -15.8% on the year before. Over the period under review, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 3,294% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, copper matte imports dropped rapidly to $X in 2022. In general, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 2,692%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

India (X tons), Germany (X tons) and France (X tons) were the main suppliers of copper matte imports to the UK, with a combined 64% share of total imports. China, Japan, Portugal, Indonesia and Italy lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +291.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest copper matte suppliers to the UK were India ($X), China ($X) and Germany ($X), together comprising 65% of total imports. Japan, Indonesia, France, Portugal and Italy lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, Indonesia, with a CAGR of +154.4%, 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 copper matte import price stood at $X per ton in 2022, with a decrease of -39% against the previous year. Overall, the import price showed a pronounced downturn. The pace of growth was the most pronounced in 2021 an increase of 69% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jamaica (+37.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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