Vietnam: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Vietnam

The Vietnamese copper ores and concentrates market expanded to $X in 2021, surging by 4.3% against the previous year. Overall, consumption showed mild growth. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Copper Ores And Concentrates in Vietnam

In value terms, copper ores and concentrates production declined modestly to $X in 2021 estimated in export price. Overall, production recorded a noticeable reduction. The pace of growth was the most pronounced in 2017 when the production volume increased by 7,396% against the previous year. Copper ores and concentrates production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Copper Ores And Concentrates

Exports from Vietnam

Copper ores and concentrates exports from Vietnam declined sharply to X tons in 2021, which is down by -64.6% compared with the year before. Over the period under review, exports faced a deep reduction. The growth pace was the most rapid in 2019 when exports increased by 245% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, copper ores and concentrates exports fell markedly to $X in 2021. Overall, exports faced a deep reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 243%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), Cambodia (X tons) and Indonesia (X tons) were the main destinations of copper ores and concentrates exports from Vietnam, with a combined 99.9% share of total exports.

From 2012 to 2021, the biggest increases were in Cambodia (with a CAGR of +57.4%), while shipments for the other leaders experienced a decline.

In value terms, China ($X) remains the key foreign market for copper ores and concentrates exports from Vietnam, comprising 83% of total exports. The second position in the ranking was held by Cambodia ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+24.1% per year) and Indonesia (-65.0% per year).

Export Prices by Country

The average copper ores and concentrates export price stood at $X per ton in 2021, surging by 2.3% against the previous year. Over the period under review, the export price, however, continues to indicate a mild descent. The pace of growth was the most pronounced in 2018 an increase of 3.9%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Indonesia ($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 India (+27.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Ores And Concentrates

Imports into Vietnam

In 2021, the amount of copper ores and concentrates imported into Vietnam shrank significantly to X tons, dropping by -84.5% against the previous year's figure. In general, imports faced a sharp slump. The most prominent rate of growth was recorded in 2014 with an increase of 159%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, copper ores and concentrates imports dropped remarkably to $X in 2021. Over the period under review, imports continue to indicate a sharp decline. The most prominent rate of growth was recorded in 2015 when imports increased by 224% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Peru (X tons) was the main copper ores and concentrates supplier to Vietnam, accounting for a 95% share of total imports. Moreover, copper ores and concentrates imports from Peru exceeded the figures recorded by the second-largest supplier, Lao People's Democratic Republic (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Peru totaled -7.3%.

In value terms, Peru ($X) constituted the largest supplier of copper ores and concentrates to Vietnam, comprising 96% of total imports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 3.6% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Peru stood at -11.0%.

Import Prices by Country

The average copper ores and concentrates import price stood at $X per ton in 2021, waning by -33.7% against the previous year. Over the period under review, the import price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2013 when the average import price increased by 65%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Peru ($X per ton), while the price for Lao People's Democratic Republic stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+7.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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