Report Update Apr 1, 2024

Colombia - Copper - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Copper Market 2024

Copper Market Size in Colombia

The Colombian copper market expanded to $X in 2022, surging by 2.3% against the previous year. Over the period under review, consumption, however, showed a significant increase. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Copper Production in Colombia

In value terms, copper production amounted to $X in 2022 estimated in export price. Overall, production, however, saw a significant increase. The growth pace was the most rapid in 2014 with an increase of 534% against the previous year. Copper production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Copper Exports

Exports from Colombia

In 2022, the amount of copper exported from Colombia surged to X kg, with an increase of 111% against the previous year. In general, exports posted a prominent increase. The pace of growth appeared the most rapid in 2013 when exports increased by 611% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper exports surged to $X in 2022. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 588% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Chile (X kg) was the main destination for copper exports from Colombia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Chile stood at +25.6%.

In value terms, Chile ($X) also remains the key foreign market for copper exports from Colombia.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile totaled +21.2%.

Export Prices by Country

The average copper export price stood at $X per ton in 2022, shrinking by -24.7% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.0% 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 +51.0% against 2017 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 82% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped notably in the following year.

As there is only one major export destination, the average price level is determined by prices for Chile.

From 2012 to 2022, the rate of growth in terms of prices for Chile amounted to -3.5% per year.

Copper Imports

Imports into Colombia

In 2022, approx. X tons of copper were imported into Colombia; which is down by -3% on the year before. In general, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2017 when imports increased by 285% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, copper imports fell to $X in 2022. Overall, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by 99% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, France (X tons) constituted the largest copper supplier to Colombia, with a 80% share of total imports. Moreover, copper imports from France exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold. The third position in this ranking was taken by China (X kg), with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France totaled +27.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+26.4% per year) and China (-1.9% per year).

In value terms, France ($X) constituted the largest supplier of copper to Colombia, comprising 71% of total imports. The second position in the ranking was taken by the United States ($X), with a 7.2% share of total imports. It was followed by Spain, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value from France totaled +34.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+25.3% per year) and Spain (+6.8% per year).

Import Prices by Country

In 2022, the average copper import price amounted to $X per ton, dropping by -6.5% against the previous year. Overall, the import price, however, saw a notable increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 124%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Spain ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for copper in the world?

The countries with the highest volumes of consumption in 2022 were Chile, China and Peru, with a combined 49% share of global consumption. Democratic Republic of the Congo, the United States, Australia, Russia, Indonesia, Canada, Mexico, Kazakhstan, Mongolia and Brazil lagged somewhat behind, together accounting for a further 36%.

What are the largest producers of copper in the world?

Chile remains the largest copper producing country worldwide, comprising approx. 27% of total volume. Moreover, copper production in Chile exceeded the figures recorded by the second-largest producer, Peru, threefold. The third position in this ranking was taken by China, with an 8% share.

What are the leading suppliers of copper to Colombia?

In value terms, France constituted the largest supplier of copper to Colombia, comprising 71% of total imports. The second position in the ranking was held by the United States, with a 7.2% share of total imports. It was followed by Spain, with a 4.4% share.

What are the leading importers of copper from Colombia?

In value terms, Chile remains the key foreign market for copper exports from Colombia.

What is the average export price for copper in Colombia?

The average copper export price stood at $16,990 per ton in 2022, declining by -24.7% against the previous year.

What is the average import price for copper in Colombia?

The average copper import price stood at $14,859 per ton in 2022, with a decrease of -6.5% against the previous year.

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 24441200 - Unrefined copper, copper anodes for electrolytic refining (including blister copper) (excluding electrocopper-plating, e lectroplating anodes)

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