Colombia: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Colombia

The Colombian market for copper bars, rods and profiles shrank to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Copper bar, rod and profile consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Copper Bars, Rods and Profiles in Colombia

In value terms, copper bar, rod and profile production dropped to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Colombia

In 2022, overseas shipments of copper bars, rods and profiles increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, copper bar, rod and profile exports soared to $X in 2022. Over the period under review, exports, however, showed a mild setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for copper bar, rod and profile exports from Colombia, with a X% share of total exports. Moreover, copper bar, rod and profile exports to the United States exceeded the volume sent to the second major destination, Ecuador (X tons), twofold. Bolivia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Bolivia (X% per year).

In value terms, the United States ($X), Ecuador ($X) and Bolivia ($X) constituted the largest markets for copper bar, rod and profile exported from Colombia worldwide, with a combined X% share of total exports. Mexico, Venezuela, the Dominican Republic, Chile and Costa Rica lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, the Dominican Republic, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to the United States ($X 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 Chile (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Colombia

In 2022, imports of copper bars, rods and profiles into Colombia reduced notably to X tons, which is down by X% compared with the year before. Over the period under review, imports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, copper bar, rod and profile imports reduced dramatically to $X in 2022. In general, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Chile (X tons) constituted the largest supplier of copper bar, rod and profile to Colombia, accounting for a X% share of total imports. Moreover, copper bar, rod and profile imports from Chile exceeded the figures recorded by the second-largest supplier, Peru (X tons), twofold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Chile totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (X% per year) and South Korea (X% per year).

In value terms, Chile ($X), Peru ($X) and South Korea ($X) constituted the largest copper bar, rod and profile suppliers to Colombia, with a combined X% share of total imports.

South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for copper bars, rods and profiles amounted to $X per ton, increasing by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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