CIS: Copper Market 2024

Copper Market Size in CIS

The CIS copper market declined to $X in 2022, with a decrease of X% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Copper Production in CIS

In value terms, copper production reached $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Copper Exports

Exports in CIS

Copper exports rose significantly to X tons in 2022, picking up by X% on the previous year's figure. Over the period under review, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, copper exports expanded to $X in 2022. Overall, exports continue to indicate resilient growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Russia (X tons) represented the key exporter of refined copper, mixing up X% of total exports. It was distantly followed by Kazakhstan (X tons), making up a X% share of total exports. Uzbekistan (X tons) took a minor share of total exports.

Russia was also the fastest-growing in terms of the refined copper exports, with a CAGR of X% from 2012 to 2022. At the same time, Uzbekistan (X%) displayed positive paces of growth. Kazakhstan experienced a relatively flat trend pattern. From 2012 to 2022, the share of Russia and Uzbekistan increased by X and X percentage points, respectively.

In value terms, Russia ($X) remains the largest copper supplier in the CIS, comprising X% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia stood at X%. In the other countries, the average annual rates were as follows: Kazakhstan (X% per year) and Uzbekistan (X% per year).

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, reducing by X% against the previous year. Export price indicated slight 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 2019 indices. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted slightly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

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

Copper Imports

Imports in CIS

In 2022, purchases abroad of refined copper decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports saw a dramatic shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, copper imports shrank significantly to $X in 2022. In general, imports faced a sharp descent. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Russia dominates imports structure, finishing at X tons, which was approx. X% of total imports in 2022. Azerbaijan (X tons) took the second position in the ranking, followed by Kazakhstan (X tons). All these countries together held approx. X% share of total imports.

Imports into Russia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Kazakhstan (X%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. By contrast, Azerbaijan (X%) illustrated a downward trend over the same period. While the share of Azerbaijan (X p.p.) and Kazakhstan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (X p.p.) displayed negative dynamics.

In value terms, Russia ($X) constitutes the largest market for imported refined copper in the CIS, comprising X% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with an X% share of total imports.

In Russia, copper imports shrank by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (X% per year) and Azerbaijan (X% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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