Price for Copper; Refined and Copper Alloys, Unwrought in Mexico - 2023

Contents:

1. Price for Copper; Refined and Copper Alloys, Unwrought in Mexico (FOB) - 2022
2. Price for Copper; Refined and Copper Alloys, Unwrought in Mexico (CIF) - 2023
3. Exports of Copper; Refined and Copper Alloys, Unwrought in Mexico
4. Imports of Copper; Refined and Copper Alloys, Unwrought in Mexico

Price for Copper; Refined and Copper Alloys, Unwrought in Mexico (FOB) - 2022

The average export price for copper; refined and copper alloys, unwroughts stood at $8,192 per ton in 2022, approximately reflecting the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average export price increased by 1.2% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($8,423 per ton), while the average price for exports to China totaled $7,391 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.3%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Copper; Refined and Copper Alloys, Unwrought in Mexico (CIF) - 2023

The average import price for copper; refined and copper alloys, unwroughts stood at $41,564 per ton in December 2023, declining by -63.8% against the previous month. Overall, the import price, however, enjoyed buoyant growth. The pace of growth was the most pronounced in November 2023 when the average import price increased by 846% month-to-month. As a result, import price reached the peak level of $115K per ton, and then reduced remarkably in the following month.

As there is only one major supplying country, the average price level is determined by prices for Chile.

From December 2022 to December 2023, the rate of growth in terms of prices for Chile amounted to -0.0% per month.

Exports of Copper; Refined and Copper Alloys, Unwrought in Mexico

Exports of copper; refined and copper alloys, unwroughts from Mexico declined to 103K tons in 2022, which is down by -12.8% on 2021. The total export volume increased at an average annual rate of +2.2% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 23% against the previous year. As a result, the exports reached the peak of 118K tons, and then dropped in the following year.

In value terms, exports of copper; refined and copper alloys, unwroughts shrank to $841M in 2022. The total export value increased at an average annual rate of +3.5% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 25%. As a result, the exports attained the peak of $953M, and then shrank in the following year.

Top Export Markets for Copper; Refined and Copper Alloys, Unwrought from Mexico in 2022:

1. United States (79.7K tons)
2. China (23.0K tons)

Imports of Copper; Refined and Copper Alloys, Unwrought in Mexico

Imports of copper; refined and copper alloys, unwroughts into Mexico dropped remarkably to 7.8K tons in 2022, with a decrease of -79.7% compared with the previous year's figure. Over the period under review, imports recorded a precipitous setback. The growth pace was the most rapid in 2021 with an increase of 74% against the previous year. As a result, imports reached the peak of 38K tons, and then shrank remarkably in the following year.

In value terms, imports of copper; refined and copper alloys, unwroughts declined rapidly to $375M in 2022. In general, imports saw a sharp decline. The pace of growth was the most pronounced in 2021 when imports increased by 97% against the previous year. As a result, imports reached the peak of $1.6B, and then reduced markedly in the following year.

Top Suppliers of Copper; Refined and Copper Alloys, Unwrought to Mexico in 2022:

1. Chile (4.0K tons)
2. United States (3.6K tons)
3. Peru (0.3K tons)

Source: IndexBox Market Intelligence Platform