Copper Wire Price in Saudi Arabia - 2021

Contents:

1. Copper Wire Price in Saudi Arabia (CIF) - 2022
2. Copper Wire Price in Saudi Arabia (FOB) - 2022
3. Copper Wire Imports in Saudi Arabia
4. Copper Wire Exports in Saudi Arabia

Copper Wire Price in Saudi Arabia (CIF) - 2022

The average copper wire import price stood at $9,059 per ton in 2021, with an increase of 50% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Egypt ($9,796 per ton), while the price for Germany ($2,599 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Copper Wire Price in Saudi Arabia (FOB) - 2022

In 2021, the average copper wire export price amounted to $6,283 per ton, with an increase of 11% against the previous year. Overall, the export price, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2014 when the average export price increased by 22%. The export price peaked at $7,549 per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($7,333 per ton), while the average price for exports to Egypt ($4,638 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 Germany (+17.5%), while the prices for the other major destinations experienced mixed trend patterns.

Copper Wire Imports in Saudi Arabia

Copper wire imports into Saudi Arabia rose notably to 119K tons in 2022, surging by 8.3% compared with 2021 figures. Over the period under review, imports, however, saw a mild reduction.

In value terms, copper wire imports shrank to $884M in 2022. The total import value increased at an average annual rate of +4.0% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 29% against the previous year. As a result, imports attained the peak of $995M, and then contracted in the following year.

Top Suppliers of Copper Wire to Saudi Arabia in 2022:

1. United Arab Emirates (93.9K tons)
2. Russia (38.4K tons)
3. Egypt (13.5K tons)

Copper Wire Exports in Saudi Arabia

In 2022, the amount of copper wires exported from Saudi Arabia contracted remarkably to 1K tons, waning by -29.8% compared with the previous year's figure. In general, exports showed a precipitous slump. The pace of growth appeared the most rapid in 2021 when exports increased by 179% against the previous year.

In value terms, copper wire exports dropped significantly to $6.2M in 2022. Over the period under review, exports saw a dramatic downturn. The pace of growth was the most pronounced in 2021 with an increase of 208% against the previous year.

Top Export Markets for Copper Wire from Saudi Arabia in 2022:

1. United Arab Emirates (826.1 tons)
2. Egypt (578.7 tons)
3. Iraq (27.9 tons)
4. Bahrain (8.6 tons)

Source: IndexBox Market Intelligence Platform