Western Africa: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Western Africa

The West African market for copper bars, rods and profiles reached $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Copper Bars, Rods and Profiles in Western Africa

In value terms, copper bar, rod and profile production stood at $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 13% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Copper Bars, Rods and Profiles

Exports in Western Africa

In 2022, overseas shipments of copper bars, rods and profiles decreased by -34.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2017 with an increase of 196%. The volume of export peaked at X tons in 2021, and then dropped remarkably in the following year.

In value terms, copper bar, rod and profile exports dropped remarkably to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 230%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Togo (X tons), Senegal (X tons), Sierra Leone (X tons) and Nigeria (X tons) represented roughly 98% of total exports in 2022. Ghana (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Sierra Leone (with a CAGR of +57.6%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Togo ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 81% of total exports. Sierra Leone and Ghana lagged somewhat behind, together accounting for a further 18%.

Sierra Leone, with a CAGR of +52.5%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, rising by 16% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2016 when the export price increased by 86% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+3.1%), while the other leaders experienced a decline in the export price figures.

Imports of Copper Bars, Rods and Profiles

Imports in Western Africa

For the fourth consecutive year, Western Africa recorded decline in overseas purchases of copper bars, rods and profiles, which decreased by -1% to X tons in 2022. Overall, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 67% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, copper bar, rod and profile imports fell slightly to $X in 2022. Over the period under review, imports recorded a deep downturn. The pace of growth appeared the most rapid in 2018 when imports increased by 52%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X tons), distantly followed by Ghana (X tons), Senegal (X tons), Cote d'Ivoire (X tons) and Sierra Leone (X tons) were the largest importers of copper bars, rods and profiles, together achieving 79% of total imports. The following importers - Burkina Faso (X tons), Guinea (X tons), Niger (X tons), Mali (X tons), Benin (X tons) and Cabo Verde (X tons) - together made up 17% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Niger (with a CAGR of +20.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bar, rod and profile importing markets in Western Africa were Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X), together accounting for 54% of total imports. Senegal, Niger, Sierra Leone, Guinea, Mali, Burkina Faso, Benin and Cabo Verde lagged somewhat behind, together comprising a further 39%.

Among the main importing countries, Niger, with a CAGR of +25.5%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, reducing by -2.9% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by 27% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Niger ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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