Price for Copper; Refined and Copper Alloys, Unwrought in Vietnam - 2022

Price for Copper; Refined and Copper Alloys, Unwrought in Vietnam (CIF) - 2022

The average import price for copper; refined and copper alloys, unwroughts stood at $8,574 per ton in December 2022, increasing by 2.8% against the previous month. Over the period under review, the import price, however, continues to indicate a mild setback. The growth pace was the most rapid in August 2022 when the average import price increased by 7.5% against the previous month. Over the period under review, average import prices reached the maximum at $10,154 per ton in March 2022; however, from April 2022 to December 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In December 2022, the countries with the highest prices were Japan ($8,748 per ton) and Australia ($8,678 per ton), while the price for the Philippines ($8,309 per ton) and South Korea ($8,369 per ton) were amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Australia (-0.9%), while the prices for the other major suppliers experienced a decline.

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

In 2022, the average export price for copper; refined and copper alloys, unwroughts amounted to $6,066 per ton, growing by 7.4% against the previous year. Overall, the export price, however, continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2015 an increase of 17%. The export price peaked at $8,061 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($8,316 per ton), while the average price for exports to China amounted to $6,017 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+12.1%), while the prices for the other major destinations experienced mixed trend patterns.

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

In 2022, imports of copper; refined and copper alloys, unwroughts into Vietnam reduced slightly to 227K tons, waning by -2.9% against the previous year. In general, imports showed a pronounced reduction. The pace of growth was the most pronounced in 2021 with an increase of 1%.

In value terms, imports of copper; refined and copper alloys, unwroughts reduced to $2.1B in 2022. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +8.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 50%. As a result, imports reached the peak of $2.2B, and then fell modestly in the following year.

Import of Copper; Refined and Copper Alloys, Unwrought in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Congo	342	275	487	456	10.1%
China	381	292	382	379	-0.2%
Indonesia	168	149	189	285	19.3%
South Korea	260	306	412	202	-8.1%
Australia	154	161	263	176	4.6%
Japan	74.1	130	161	157	28.4%
Philippines	47.9	58.9	138	144	44.3%
Chile	47.8	10.0	21.4	128	38.9%
Myanmar	109	45.9	32.8	60.7	-17.7%
Poland	N/A	17.4	96.3	55.1	78.0%
Others	48.0	15.5	3.2	42.1	-4.3%
Total	1,633	1,460	2,184	2,086	8.5%

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

Congo (47.3K tons)
China (41.7K tons)
Indonesia (31.4K tons)
South Korea (21.4K tons)
Australia (19.2K tons)
Japan (17.0K tons)
Philippines (15.2K tons)
Chile (14.4K tons)
Myanmar (9.2K tons)
Poland (6.0K tons)

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

In 2022, approx. 8K tons of copper; refined and copper alloys, unwroughts were exported from Vietnam; jumping by 56% on 2021. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 56%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, exports of copper; refined and copper alloys, unwroughts soared to $49M in 2022. In general, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.