Price for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in the United States - 2023

Contents:

1. Price for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in the United States (CIF) - 2023
2. Price for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in the United States (FOB) - 2023
3. Imports of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in the United States
4. Exports of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in the United States

Price for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in the United States (CIF) - 2023

The average import price for copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses stood at $11,178 per ton in December 2023, surging by 3.9% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 4.3% m-o-m. The import price peaked at $11,593 per ton in May 2023; however, from June 2023 to December 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In December 2023, the countries with the highest prices were Japan ($13,464 per ton) and South Korea ($12,060 per ton), while the price for India ($9,343 per ton) and Peru ($10,117 per ton) were amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Peru (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in the United States (FOB) - 2023

The average export price for copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses stood at $15,964 per ton in December 2023, with an increase of 4.6% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.6%. The most prominent rate of growth was recorded in March 2023 when the average export price increased by 11% m-o-m. Over the period under review, the average export prices reached the peak figure at $16,792 per ton in October 2023; however, from November 2023 to December 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In December 2023, the country with the highest price was Japan ($80,713 per ton), while the average price for exports to Canada ($10,041 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in the United States

In 2022, imports of copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses into the United States stood at 23K tons, with an increase of 7.9% on the previous year. The total import volume increased at an average annual rate of +4.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 30%. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, imports of copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses expanded sharply to $259M in 2022. Over the period under review, imports recorded a strong expansion. The growth pace was the most rapid in 2021 with an increase of 83% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils to the United States in 2022:

1. Germany (12.5K tons)
2. Finland (3.0K tons)
3. Peru (1.4K tons)
4. Bulgaria (1.0K tons)
5. China (0.9K tons)
6. Italy (0.8K tons)
7. Mexico (0.7K tons)
8. India (0.7K tons)
9. South Korea (0.7K tons)
10. Brazil (0.4K tons)
11. Japan (0.4K tons)

Exports of Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils in the United States

In 2022, approx. 12K tons of copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses were exported from the United States; with a decrease of -5.7% on the previous year. The total export volume increased at an average annual rate of +4.8% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 25% against the previous year. As a result, the exports attained the peak of 12K tons, and then declined in the following year.

In value terms, exports of copper; strip, of a thickness exceeding 0.15mm, of refined copper, in coilses shrank slightly to $171M in 2022. Overall, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +13.8% 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 +48.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 52%. As a result, the exports attained the peak of $175M, and then contracted in the following year.

Top Export Markets for Copper; Strip, of A Thickness Exceeding 0.15mm, of Refined Copper, in Coils from the United States in 2022:

1. Mexico (7.3K tons)
2. Canada (2.1K tons)
3. China (0.9K tons)
4. Saudi Arabia (0.3K tons)
5. Japan (0.3K tons)
6. Germany (0.2K tons)
7. Hong Kong SAR (0.2K tons)

Source: IndexBox Market Intelligence Platform