Copper Wire Price in the UK - 2023

Contents:

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

Copper Wire Price in the UK (CIF) - 2022

In 2022, the average copper wire import price amounted to $9,331 per ton, falling by -2% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper wire import price increased by +40.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 49% against the previous year. As a result, import price attained the peak level of $9,518 per ton, and then shrank modestly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Italy ($10,435 per ton) and France ($9,902 per ton), while the price for Germany ($7,949 per ton) and Russia ($9,034 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Copper Wire Price in the UK (FOB) - 2022

In 2022, the average copper wire export price amounted to $14,153 per ton, increasing by 38% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper wire export price increased by +115.7% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 the United States ($35,870 per ton), while the average price for exports to the Philippines ($5,132 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 Turkey (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports in the UK

For the third year in a row, the UK recorded decline in overseas purchases of copper wires, which decreased by -7.9% to 46K tons in 2022. Over the period under review, imports recorded a abrupt shrinkage.

In value terms, copper wire imports shrank to $429M in 2022. In general, imports saw a noticeable curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 25%. As a result, imports reached the peak of $475M, and then shrank in the following year.

Top Suppliers of Copper Wire to the UK in 2022:

1. Belgium (26.2K tons)
2. Turkey (7.2K tons)
3. Germany (5.5K tons)
4. Spain (1.7K tons)
5. Russia (1.2K tons)
6. France (1.1K tons)
7. Sweden (1.0K tons)
8. Italy (0.1K tons)

Copper Wire Exports in the UK

For the third consecutive year, the UK recorded decline in shipments abroad of copper wires, which decreased by -55.1% to 1.6K tons in 2022. In general, exports recorded a sharp contraction. The smallest decline of -8.9% was in 2020.

In value terms, copper wire exports declined rapidly to $22M in 2022. Over the period under review, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 9.5%.

Top Export Markets for Copper Wire from the UK in 2022:

1. Germany (353.0 tons)
2. Italy (205.5 tons)
3. Belgium (175.0 tons)
4. Spain (114.2 tons)
5. Philippines (78.5 tons)
6. France (77.5 tons)
7. Sweden (71.8 tons)
8. Ireland (56.6 tons)
9. Turkey (43.3 tons)
10. India (33.9 tons)
11. United States (30.5 tons)
12. Switzerland (27.6 tons)
13. China (23.5 tons)

Source: IndexBox Market Intelligence Platform