Copper Ore Market - Chile Continues to Head Global Copper Supplies

Uranium And Thorium Ores November 09, 2016
Author: Maria Fadeeva
Market Analyst

copper ore market

Photo: © Bora030 / Bigstockphoto

From 2007 to 2015, global copper exports showed a steady declining trend, with the exception of a brief reversal in 2010 and 2011. Exports amounted to 5,407 million USD in 2015. There was an annual decrease of -2.4% throughout the analyzed period.

According to IndexBox estimates, Chile continued to lead the way in global supplies of copper. In 2015, Chile's copper exports totaled 2,177 million USD, which accounted for a 40% share in terms of global exports. Bulgaria, Zambia, Namibia, and Congo were the other key global suppliers on the global copper market in 2015, with a 37% combined share of global exports.

Zambia (+19.7% per year) and Congo (+12.6% per year) were the fastest growing exporters from 2007 to 2015. Zambia significantly strengthened its position in terms of global copper exports, growing its share from 2% in 2007 to 12% in 2015.

On the other hand, China (43%, based on value terms), Belgium (19%), India (7%), Canada (5%), and the Republic of Korea (5%) were the leading destinations of copper imports in 2015. Imports to India grew at a rapid pace of +37.7% per year from 2007 to 2015. By contrast, the Republic of Korea contracted its imports of copper over the same period. China's share of global imports increased significantly (+27 percentage points), while the share of the Republic of Korea illustrated negative dynamics (-5 percentage points).

Global Exports Of Copper, In Value Terms

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Source: World: Copper Ores And Concentrates - Market Report. Analysis and Forecast to 2020