U.S. Copper And Copper Alloy Products Market. Analysis And Forecast to 2025
Copper And Copper Alloy Product Market - U.S. Copper and Copper Alloy Products Imports Plunged after a Three-Year Period of Being Stable
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The U.S. ranks first in global imports on the copper and copper alloy product market, accounting for an 8% share (based on USD). It was followed by China (7%), Germany (5%) and France (5%). In 2015, U.S. copper and copper alloy products imports totaled 3,489 million USD, which was 735 million USD (17%) less than the year before.
From 2007 to 2015, U.S. copper and copper alloy products imports showed mixed dynamics. A precipitous drop in 2009 was followed by a rebound over the next two years, until imports leveled off through to 2014. In 2015, another plunge occurred, dropping by 17% under the previous year.
In 2011, U.S. copper and copper alloy products imports recovered from a recessionary slump. However, after a slip back in 2012 and another fall in 2015, imports stood far below the pre-recession level of 2008.
Despite negative import dynamics, the U.S. continues to be one of the biggest markets for global exporters.
Canada, Mexico and Germany were the main suppliers of copper and copper alloy products into the U.S., with a combined 61% share of total U.S. imports in 2015. Germany was the fastest growing supplier (+3.5% per year) from 2007 to 2015, while imports from Canada decreased by -1.4% per year. Mexico faced a deeper decline, falling by -6.6% per year. Over the period under review, Canada and Germany strengthened their positions in the U.S. import structure by +6 percentage point each, to 29% and 14% in 2015, respectively. By contrast, Mexico saw its share reduced from 23% to 18%.
From 2007 to 2015, the U.S. was a net importer of copper and copper alloy products. However, imports declined faster than exports on average over the period under review.
Net US imports of copper and copper alloy products showed sharp fluctuations, but an overall trend was downward over the period under review. After a steep fall in 2015, the trade deficit fairly evaporated, amounting to 36 million USD.
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