Price for Copper; Refined and Copper Alloys, Unwrought in the United States - 2024
Contents:
- Price for Copper; Refined and Copper Alloys, Unwrought in the United States (CIF) - 2024
- Price for Copper; Refined and Copper Alloys, Unwrought in the United States (FOB) - 2022
- Imports of Copper; Refined and Copper Alloys, Unwrought in the United States
- Exports of Copper; Refined and Copper Alloys, Unwrought in the United States
Price for Copper; Refined and Copper Alloys, Unwrought in the United States (CIF) - 2024
In December 2023, the average import price for copper; refined and copper alloys, unwroughts amounted to $8,371 per ton, with an increase of 2.7% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $9,019 per ton in March 2023; however, from April 2023 to December 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the highest price was recorded for prices from Chile ($8,425 per ton) and Peru ($8,317 per ton), while the price for Mexico ($8,235 per ton) and Canada ($8,252 per ton) were amongst the lowest.
From February 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo (+0.2%), while the prices for the other major suppliers experienced a decline.
Price for Copper; Refined and Copper Alloys, Unwrought in the United States (FOB) - 2022
The average export price for copper; refined and copper alloys, unwroughts stood at $7,793 per ton in 2022, waning by -15.2% against the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for copper; refined and copper alloys, unwroughts increased by +17.0% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 40%. As a result, the export price attained the peak level of $9,190 per ton, and then dropped dramatically in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($11,342 per ton), while the average price for exports to China ($5,812 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 Canada (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Copper; Refined and Copper Alloys, Unwrought in the United States
In 2022, after three years of growth, there was significant decline in supplies from abroad of copper; refined and copper alloys, unwroughts, when their volume decreased by -20.3% to 741K tons. The total import volume increased at an average annual rate of +3.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 34% against the previous year. As a result, imports reached the peak of 930K tons, and then reduced rapidly in the following year.
In value terms, imports of copper; refined and copper alloys, unwroughts reduced markedly to $6.7B in 2022. In general, imports, however, posted a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 106%. As a result, imports attained the peak of $8.6B, and then fell dramatically in the following year.
| Import of Copper; Refined and Copper Alloys, Unwrought in the United States (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Chile | 2.6 | 2.5 | 5.7 | 4.2 | 17.3% |
| Canada | 0.9 | 1.0 | 1.4 | 1.2 | 10.1% |
| Mexico | 0.5 | 0.6 | 0.8 | 0.7 | 11.9% |
| Peru | 0.1 | 0.1 | 0.3 | 0.5 | 71.0% |
| Others | 0.1 | 0.1 | 0.5 | 0.2 | 26.0% |
| Total | 4.1 | 4.2 | 8.6 | 6.7 | 17.8% |
Top Suppliers of Copper; Refined and Copper Alloys, Unwrought to the United States in 2022:
- Chile (461.9K tons)
- Canada (130.9K tons)
- Mexico (75.6K tons)
- Peru (52.1K tons)
Exports of Copper; Refined and Copper Alloys, Unwrought in the United States
In 2022, approx. 112K tons of copper; refined and copper alloys, unwroughts were exported from the United States; which is down by -42.8% against the previous year's figure. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 37%. As a result, the exports reached the peak of 195K tons, and then plummeted in the following year.
In value terms, exports of copper; refined and copper alloys, unwroughts fell rapidly to $870M in 2022. Over the period under review, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of 91% against the previous year. As a result, the exports reached the peak of $1.8B, and then fell notably in the following year.
| Export of Copper; Refined and Copper Alloys, Unwrought in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 856 | 778 | 1,460 | 522 | -15.2% |
| Canada | 222 | 105 | 264 | 252 | 4.3% |
| China | 2.9 | 8.4 | 31.9 | 28.9 | 115.2% |
| United Kingdom | 1.6 | 2.0 | 1.3 | 17.0 | 119.8% |
| Netherlands | 1.8 | 2.3 | 2.4 | 13.9 | 97.7% |
| Others | 49.9 | 42.8 | 35.6 | 37.5 | -9.1% |
| Total | 1,133 | 939 | 1,795 | 870 | -8.4% |
Top Export Markets for Copper; Refined and Copper Alloys, Unwrought from the United States in 2022:
- Mexico (69.0K tons)
- Canada (29.7K tons)
- China (5.0K tons)
- United Kingdom (2.1K tons)
- Netherlands (1.7K tons)
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