Copper Wire Price in the United States - 2023

Contents:

1. Copper Wire Price in the United States (CIF) - 2023
2. Copper Wire Price in the United States (FOB) - 2023
3. Copper Wire Imports in the United States
4. Copper Wire Exports in the United States

Copper Wire Price in the United States (CIF) - 2023

The average copper wire import price stood at $8,992 per ton in October 2023, approximately reflecting the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in December 2022 an increase of 5% m-o-m. Over the period under review, average import prices attained the peak figure at $9,765 per ton in March 2023; however, from April 2023 to October 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In October 2023, the countries with the highest prices were South Korea ($10,069 per ton) and Peru ($9,280 per ton), while the price for Mexico ($8,078 per ton) and the United Arab Emirates ($8,672 per ton) were amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Canada (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Copper Wire Price in the United States (FOB) - 2023

In October 2023, the average copper wire export price amounted to $7,051 per ton, with a decrease of -5.7% against the previous month. Overall, the export price recorded a mild slump. The growth pace was the most rapid in August 2023 an increase of 8% month-to-month. The export price peaked at $9,924 per ton in February 2023; however, from March 2023 to October 2023, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In October 2023, the country with the highest price was Canada ($8,984 per ton), while the average price for exports to Mexico stood at $6,475 per ton.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.0%).

Copper Wire Imports in the United States

In 2022, approx. 226K tons of copper wires were imported into the United States; which is down by -3.1% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.9% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. As a result, imports reached the peak of 234K tons, and then shrank modestly in the following year.

In value terms, copper wire imports rose slightly to $2.2B in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +15.2% 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 +76.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 73%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Copper Wire to the United States in 2022:

1. Canada (183.0K tons)
2. Mexico (11.2K tons)
3. Peru (6.5K tons)
4. South Korea (3.4K tons)

Copper Wire Exports in the United States

In 2022, approx. 172K tons of copper wires were exported from the United States; growing by 8.8% on the previous year. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 20% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, copper wire exports shrank slightly to $1.5B in 2022. Overall, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +9.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.5% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 66%. As a result, the exports reached the peak of $1.5B, and then declined in the following year.

Top Export Markets for Copper Wire from the United States in 2022:

1. Mexico (128.7K tons)
2. Canada (37.3K tons)

Source: IndexBox Market Intelligence Platform