Venezuela: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Venezuela

The Venezuelan market for copper bars, rods and profiles reduced modestly to $X in 2022, which is down by -1.8% against the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Copper bar, rod and profile consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Copper Bars, Rods and Profiles in Venezuela

In value terms, copper bar, rod and profile production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 12% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Venezuela

In 2022, after three years of decline, there was significant growth in overseas shipments of copper bars, rods and profiles, when their volume increased by 126% to X tons. In general, exports posted prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 261%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile exports surged to $X in 2022. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 354%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Chile (X tons) was the main destination for copper bar, rod and profile exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Chile stood at +18.5%.

In value terms, Chile ($X) also remains the key foreign market for copper bars, rods and profiles exports from Venezuela.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile totaled +28.4%.

Export Prices by Country

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, waning by -8.5% against the previous year. In general, the export price, however, recorded a strong increase. The growth pace was the most rapid in 2016 when the average export price increased by 36% against the previous year. The export price peaked at $X per ton in 2021, and then reduced in the following year.

As there is only one major export destination, the average price level is determined by prices for Chile.

From 2012 to 2022, the rate of growth in terms of prices for Chile amounted to +8.4% per year.

Imports of Copper Bars, Rods and Profiles

Imports into Venezuela

After two years of growth, overseas purchases of copper bars, rods and profiles decreased by -16.9% to X tons in 2022. In general, imports saw a sharp reduction. The most prominent rate of growth was recorded in 2020 with an increase of 55% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile imports shrank dramatically to $X in 2022. Over the period under review, imports showed a dramatic setback. The pace of growth appeared the most rapid in 2021 when imports increased by 78% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), Mexico (X tons) and Chile (X tons) were the main suppliers of copper bar, rod and profile imports to Venezuela, with a combined 62% share of total imports. China, Colombia, Belgium, Taiwan (Chinese), the United States and Italy lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +13.7%), while imports for the other leaders experienced a decline.

In value terms, the largest copper bar, rod and profile suppliers to Venezuela were France ($X), Mexico ($X) and China ($X), with a combined 52% share of total imports. Chile, the United States, Colombia, Belgium, Taiwan (Chinese) and Italy lagged somewhat behind, together accounting for a further 36%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +16.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for copper bars, rods and profiles stood at $X per ton in 2022, with a decrease of -6.1% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 decreased by -23.9% against 2019 indices. The pace of growth appeared the most rapid in 2019 an increase of 81% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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 Italy ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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