Uzbekistan: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Uzbekistan

The Uzbek copper ores and concentrates market surged to $X in 2021, rising by 183% against the previous year. Overall, consumption recorded a significant increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Production of Copper Ores And Concentrates in Uzbekistan

In value terms, copper ores and concentrates production totaled $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 27%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Copper Ores And Concentrates

Exports from Uzbekistan

In 2021, after two years of growth, there was significant decline in overseas shipments of copper ores and concentrates, when their volume decreased by -48.3% to X kg. Overall, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by 409%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, copper ores and concentrates exports dropped remarkably to $X in 2021. In general, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 599%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X kg) was the main destination for copper ores and concentrates exports from Uzbekistan, with a 86% share of total exports. Moreover, copper ores and concentrates exports to Russia exceeded the volume sent to the second major destination, South Africa (X kg), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia totaled +14.5%.

In value terms, Russia ($X) remains the key foreign market for copper ores and concentrates exports from Uzbekistan, comprising 20% of total exports. The second position in the ranking was held by South Africa ($X), with a 3.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Russia totaled -3.8%.

Export Prices by Country

In 2021, the average copper ores and concentrates export price amounted to $X per ton, rising by 25% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 59%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, the country with the highest price was South Africa ($X per ton), while the average price for exports to Russia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (-15.9%).

Imports of Copper Ores And Concentrates

Imports into Uzbekistan

In 2021, approx. X tons of copper ores and concentrates were imported into Uzbekistan; with an increase of 113% compared with 2020. In general, imports showed significant growth. The growth pace was the most rapid in 2019 with an increase of 460%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, copper ores and concentrates imports soared to $X in 2021. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 489%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Kazakhstan (X tons) was the main copper ores and concentrates supplier to Uzbekistan, with a 91% share of total imports. Moreover, copper ores and concentrates imports from Kazakhstan exceeded the figures recorded by the second-largest supplier, Azerbaijan (X tons), more than tenfold. Tajikistan (X tons) ranked third in terms of total imports with a 3.5% share.

From 2017 to 2021, the average annual growth rate of volume from Kazakhstan amounted to +116.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Azerbaijan (+39.1% per year) and Tajikistan (+26.6% per year).

In value terms, Kazakhstan ($X) constituted the largest supplier of copper ores and concentrates to Uzbekistan, comprising 89% of total imports. The second position in the ranking was taken by Azerbaijan ($X), with a 5.7% share of total imports. It was followed by Tajikistan, with a 4.2% share.

From 2017 to 2021, the average annual growth rate of value from Kazakhstan totaled +145.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Azerbaijan (+69.2% per year) and Tajikistan (+28.8% per year).

Import Prices by Country

In 2021, the average copper ores and concentrates import price amounted to $X per ton, jumping by 33% against the previous year. Over the period under review, import price indicated strong growth from 2017 to 2021: its price increased at an average annual rate of +15.2% over the last four years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper ores and concentrates import price increased by +76.2% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Azerbaijan ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (+21.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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