Vietnam: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Vietnam

The Vietnamese market for copper bars, wire and plates shrank to $X in 2021, waning by -2.8% against the previous year. Overall, consumption continues to indicate a abrupt downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Copper Bars, Wire And Plates in Vietnam

In value terms, copper bars, wire and plates production dropped to $X in 2021 estimated in export price. Overall, production faced a drastic downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 20%. Copper bars, wire and plates production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Copper Bars, Wire And Plates

Exports from Vietnam

Copper bars, wire and plates exports from Vietnam skyrocketed to X tons in 2021, increasing by 21% against 2020 figures. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 147%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, copper bars, wire and plates exports surged to $X in 2021. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 133% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Thailand (X tons) was the main destination for copper bars, wire and plates exports from Vietnam, accounting for a 62% share of total exports. Moreover, copper bars, wire and plates exports to Thailand exceeded the volume sent to the second major destination, China (X tons), fourfold. The United States (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2021, the average annual growth rate of volume to Thailand stood at +40.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+31.9% per year) and the United States (+15.2% per year).

In value terms, Thailand ($X) remains the key foreign market for copper bars, wire and plates exports from Vietnam, comprising 51% of total exports. The second position in the ranking was held by China ($X), with a 20% share of total exports. It was followed by the United States, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand totaled +34.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+31.9% per year) and the United States (+13.8% per year).

Export Prices by Country

In 2021, the average export price for copper bars, wire and plates amounted to $X per ton, picking up by 4.1% against the previous year. Overall, the export price, however, saw a perceptible decline. The pace of growth was the most pronounced in 2017 when the average export price increased by 16%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into Vietnam

For the seventh consecutive year, Vietnam recorded growth in overseas purchases of copper bars, wire and plates, which increased by 11% to X tons in 2021. In general, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 57% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, copper bars, wire and plates imports skyrocketed to $X in 2021. Overall, imports continue to indicate resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Thailand (X tons) and South Korea (X tons) were the main suppliers of copper bars, wire and plates imports to Vietnam, with a combined 64% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +34.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bars, wire and plates suppliers to Vietnam were China ($X), Thailand ($X) and South Korea ($X), together comprising 64% of total imports.

In terms of the main suppliers, Thailand, with a CAGR of +36.4%, 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 import price for copper bars, wire and plates stood at $X per ton in 2021, surging by 38% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Thailand ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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