Report Update: May 1, 2024

Colombia - Refined Copper - Market Analysis, Forecast, Size, Trends And Insights

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Refined Copper Price in Colombia - 2022

Refined Copper Price in Colombia (CIF) - 2022

In 2022, the average refined copper import price amounted to $4,364 per ton, waning by -24.5% against the previous year. Over the period under review, the import price showed a deep setback. The pace of growth was the most pronounced in 2019 when the average import price increased by 15% against the previous year. Over the period under review, average import prices attained the peak figure at $8,236 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Peru ($7,685 per ton), while the price for Mexico ($4,169 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (-0.7%), while the prices for the other major suppliers experienced a decline.

Refined Copper Price in Colombia (FOB) - 2022

The average refined copper export price stood at $9,446 per ton in 2022, rising by 14% against the previous year. Overall, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined copper export price increased by +75.4% against 2015 indices. The growth pace was the most rapid in 2018 an increase of 15%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

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 Ecuador ($10,521 per ton), while the average price for exports to Panama ($3,497 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 Germany (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Copper Imports in Colombia

In 2022, approx. 595 tons of refined copper (unwrought, not alloyed) were imported into Colombia; remaining relatively unchanged against the previous year. In general, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +25.0% 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 +95.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 87%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, refined copper imports fell markedly to $2.6M in 2022. Overall, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +6.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -33.3% against 2020 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 82% against the previous year. As a result, imports attained the peak of $3.9M. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Refined Copper in Colombia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Mexico	1.8	3.4	2.9	2.3	8.5%
Chile	0.2	0.3	0.3	0.2	0.0%
Others	0.1	0.2	0.2	0.1	0.0%
Total	2.1	3.9	3.4	2.6	7.4%

Top Suppliers of Refined Copper to Colombia in 2022:

Mexico (541.5 tons)
Chile (41.7 tons)

Refined Copper Exports in Colombia

For the third consecutive year, Colombia recorded decline in shipments abroad of refined copper (unwrought, not alloyed), which decreased by -70.7% to 27 tons in 2022. In general, exports saw a precipitous decrease. The smallest decline of -48.4% was in 2021.

In value terms, refined copper exports dropped notably to $255K in 2022. Overall, exports saw a precipitous shrinkage. The smallest decline of -44.5% was in 2021.

Export of Refined Copper in Colombia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	N/A	N/A	N/A	198	0%
Ecuador	2,089	469	433	33.1	-74.9%
Peru	483	901	332	23.9	-63.3%
Others	63.2	10.4	1.1	0.2	-85.3%
Total	2,636	1,381	766	255	-54.1%

Top Export Markets for Refined Copper from Colombia in 2022:

Germany (21.3 tons)
Ecuador (3.1 tons)
Peru (2.5 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the copper market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24441330 - Unwrought unalloyed refined copper (excluding rolled, e xtruded or forged sintered products)

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023