Uruguay: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Uruguay

The Uruguayan market for copper bars, wire and plates was finally on the rise to reach $X in 2021, after three years of decline. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Copper Bars, Wire And Plates

Exports from Uruguay

Copper bars, wire and plates exports from Uruguay skyrocketed to X kg in 2021, jumping by 170% on the previous year. Overall, exports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2015 when exports increased by 228% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, copper bars, wire and plates exports skyrocketed to $X in 2021. In general, exports showed pronounced growth. The growth pace was the most rapid in 2015 with an increase of 276%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay (X kg) was the main destination for copper bars, wire and plates exports from Uruguay, with a 77% share of total exports. Moreover, copper bars, wire and plates exports to Paraguay exceeded the volume sent to the second major destination, Free Zones (X kg), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Paraguay totaled +7.1%.

In value terms, Paraguay ($X) remains the key foreign market for copper bars, wire and plates exports from Uruguay, comprising 79% of total exports. The second position in the ranking was held by Free Zones ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Paraguay amounted to +5.7%.

Export Prices by Country

In 2021, the average export price for copper bars, wire and plates amounted to $X per ton, waning by -25.5% against the previous year. Over the period under review, the export price, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2016 an increase of 83%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then declined significantly in the following year.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Free Zones amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+61.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Copper Bars, Wire And Plates

Imports into Uruguay

In 2021, approx. X tons of copper bars, wire and plates were imported into Uruguay; increasing by 10% compared with the previous year. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 24% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, copper bars, wire and plates imports surged to $X in 2021. In general, total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons) constituted the largest copper bars, wire and plates supplier to Uruguay, accounting for a 85% share of total imports. Moreover, copper bars, wire and plates imports from Brazil exceeded the figures recorded by the second-largest supplier, Chile (X tons), more than tenfold. Finland (X tons) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (-18.1% per year) and Finland (+11.6% per year).

In value terms, Brazil ($X) constituted the largest supplier of copper bars, wire and plates to Uruguay, comprising 85% of total imports. The second position in the ranking was taken by Chile ($X), with a 5.4% share of total imports. It was followed by Finland, with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (-16.4% per year) and Finland (+11.4% per year).

Import Prices by Country

In 2021, the average import price for copper bars, wire and plates amounted to $X per ton, growing by 45% against the previous year. In general, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper bars, wire and plates import price increased by +51.5% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Finland ($X per ton) and Argentina ($X per ton), while the price for Chile ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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