Copper Wire Price in Pakistan - 2023

Copper Wire Price in Pakistan (CIF) - 2023

The average copper wire import price stood at $9,478 per ton in April 2023, reducing by -8.4% against the previous month. Over the period under review, the import price showed a slight setback. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 56% m-o-m. As a result, import price attained the peak level of $12,763 per ton. From January 2023 to April 2023, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In April 2023, the country with the highest price was the United Arab Emirates ($9,623 per ton), while the price for China amounted to $8,831 per ton.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by China (-0.4%).

Copper Wire Price in Pakistan (FOB) - 2022

In 2022, the average copper wire export price amounted to $5,373 per ton, which is down by -22.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2019 when the average export price increased by 37%. As a result, the export price attained the peak level of $8,105 per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($10,169 per ton), while the average price for exports to Chile ($3,852 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports in Pakistan

After three years of growth, purchases abroad of copper wires decreased by -27.1% to 1.6K tons in 2022. Overall, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +8.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 44% against the previous year. As a result, imports reached the peak of 2.2K tons, and then declined sharply in the following year.

In value terms, copper wire imports dropped rapidly to $16M in 2022. Over the period under review, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 90%. As a result, imports attained the peak of $21M, and then reduced sharply in the following year.

Import of Copper Wire in Pakistan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Arab Emirates	3.0	5.3	13.3	10.8	53.3%
China	2.3	2.2	2.1	1.6	-11.4%
Sri Lanka	0.8	1.5	1.5	1.2	14.5%
Russia	0.6	0.7	0.9	0.8	10.1%
Germany	0.7	0.3	1.1	0.4	-17.0%
Oman	0.2	0.2	0.3	0.3	14.5%
Singapore	0.1	0.2	0.4	0.3	44.2%
Malaysia	1.2	0.3	0.3	0.3	-37.0%
Others	1.1	0.5	1.3	0.7	-14.0%
Total	10.1	11.1	21.1	16.2	17.1%

Top Suppliers of Copper Wire to Pakistan in 2022:

United Arab Emirates (911.4 tons)
China (219.6 tons)
Singapore (143.0 tons)
Sri Lanka (108.2 tons)
Oman (39.8 tons)
Russia (34.4 tons)
Germany (32.2 tons)
Malaysia (27.8 tons)

Copper Wire Exports in Pakistan

In 2022, overseas shipments of copper wires decreased by -15.9% to 950 tons, falling for the second year in a row after two years of growth. In general, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2020 with an increase of 285% against the previous year. As a result, the exports attained the peak of 1.7K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, copper wire exports dropped dramatically to $5.1M in 2022. Overall, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 239%. As a result, the exports reached the peak of $12M. From 2021 to 2022, the growth of the exports failed to regain momentum.

Export of Copper Wire in Pakistan (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	2.5	2.8	6.3	4.1	17.9%
United Kingdom	0.5	0.5	0.7	0.5	0.0%
China	0.2	7.0	0.3	0.2	0.0%
India	0.1	1.3	0.1	0.1	0.0%
Chile	N/A	0.1	0.1	0.1	0.0%
Others	0.3	0.3	0.3	0.2	-12.6%
Total	3.6	12.0	7.8	5.1	12.3%