Vietnam: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Vietnam

The Vietnamese market for copper bars, rods and profiles dropped to $X in 2022, waning by -8.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +10.6% against 2020 indices. Copper bar, rod and profile consumption peaked at $X in 2021, and then shrank in the following year.

Exports of Copper Bars, Rods and Profiles

Exports from Vietnam

In 2022, copper bar, rod and profile exports from Vietnam reduced markedly to X tons, with a decrease of -36.8% against 2021 figures. Over the period under review, exports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2021 with an increase of 279% against the previous year. As a result, the exports reached the peak of X tons, and then contracted rapidly in the following year.

In value terms, copper bar, rod and profile exports declined significantly to $X in 2022. Overall, exports, however, saw a temperate expansion. The pace of growth was the most pronounced in 2021 with an increase of 455%. As a result, the exports reached the peak of $X, and then shrank remarkably in the following year.

Exports by Country

China (X tons) was the main destination for copper bar, rod and profile exports from Vietnam, with a 78% share of total exports. Moreover, copper bar, rod and profile exports to China exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold. The third position in this ranking was held by South Korea (X tons), with a 2.5% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-12.1% per year) and South Korea (+22.5% per year).

In value terms, China ($X) remains the key foreign market for copper bars, rods and profiles exports from Vietnam, comprising 78% of total exports. The second position in the ranking was held by Japan ($X), with a 7.2% share of total exports. It was followed by South Korea, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +21.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-12.6% per year) and South Korea (+27.8% per year).

Export Prices by Country

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, dropping by -6.6% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 47% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Malaysia ($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 Hong Kong SAR (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Vietnam

Copper bar, rod and profile imports into Vietnam fell slightly to X tons in 2022, reducing by -2.6% on the year before. Overall, imports, however, saw resilient growth. The growth pace was the most rapid in 2013 with an increase of 38% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile imports shrank to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +16.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 32% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

South Korea (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of copper bar, rod and profile imports to Vietnam, together accounting for 75% of total imports. China, Malaysia, Thailand and Indonesia lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +78.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X) were the largest copper bar, rod and profile suppliers to Vietnam, together comprising 73% of total imports. China, Thailand, Malaysia and Indonesia lagged somewhat behind, together accounting for a further 25%.

Among the main suppliers, Indonesia, with a CAGR of +92.0%, 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 import price for copper bars, rods and profiles stood at $X per ton in 2022, falling by -9.9% against the previous year. In general, the import price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2021 an increase of 25%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood 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 Thailand ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+7.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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