Canada: Copper Market 2024

Copper Market Size in Canada

The Canadian copper market fell slightly to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption recorded a slight reduction. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Copper Production in Canada

In value terms, copper production declined to $X in 2022 estimated in export price. Overall, production recorded a perceptible contraction. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

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Copper Exports

Exports from Canada

In 2022, approx. X tons of refined copper were exported from Canada; reducing by X% against the previous year. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, copper exports shrank notably to $X in 2022. Over the period under review, total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for copper exports from Canada, with a X% share of total exports. Moreover, copper exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest.

In value terms, the United States ($X) remains the key foreign market for refined copper exports from Canada, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%.

Export Prices by Country

The average copper export price stood at $X per ton in 2022, waning by X% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Brazil totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%).

Copper Imports

Imports into Canada

Copper imports into Canada fell markedly to X tons in 2022, shrinking by X% compared with 2021 figures. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, copper imports fell dramatically to $X in 2022. In general, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2021, and then declined rapidly in the following year.

Imports by Country

The United States (X tons), Democratic Republic of the Congo (X tons) and Chile (X tons) were the main suppliers of copper imports to Canada, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest copper suppliers to Canada were the United States ($X), Democratic Republic of the Congo ($X) and Chile ($X), with a combined X% share of total imports.

The United States, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average copper import price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton, and then reduced slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Zambia ($X per ton) and Democratic Republic of the Congo ($X per ton), while the price for Germany ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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