Croatia: Refined Copper Market 2022

Refined Copper Market Size in Croatia

In 2021, the Croatian refined copper market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Refined Copper Production in Croatia

In value terms, refined copper production rose modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2015 when the production volume increased by 14% against the previous year. Refined copper production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Refined Copper Exports

Exports from Croatia

In 2021, overseas shipments of refined copper (unwrought, not alloyed) decreased by -97.9% to X tons, falling for the third year in a row after seven years of growth. In general, exports saw a sharp setback. The most prominent rate of growth was recorded in 2017 when exports increased by 66% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, refined copper exports reduced dramatically to $X in 2021. Overall, exports showed a dramatic shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 65%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Serbia (X kg) and Slovenia (X kg) were the main destinations of refined copper exports from Croatia.

From 2012 to 2021, the biggest increases were in Serbia (with a CAGR of +80.8%).

In value terms, Serbia ($X) emerged as the key foreign market for refined copper exports from Croatia, comprising 79% of total exports. The second position in the ranking was taken by Slovenia ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Serbia totaled +77.9%.

Export Prices by Country

In 2021, the average refined copper export price amounted to $X per ton, rising by 228% against the previous year. In general, the export price saw strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Serbia ($X per ton), while the average price for exports to Slovenia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Copper Imports

Imports into Croatia

In 2021, supplies from abroad of refined copper (unwrought, not alloyed) increased by 11% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports saw a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 127% against the previous year. Imports peaked at X tons in 2017; afterwards, it flattened through to 2021.

In value terms, refined copper imports surged to $X in 2021. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 79% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Bulgaria (X tons) constituted the largest supplier of refined copper to Croatia, accounting for a 72% share of total imports. Moreover, refined copper imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from Bulgaria stood at +27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+108.3% per year) and Serbia (-65.6% per year).

In value terms, Bulgaria ($X) constituted the largest supplier of refined copper to Croatia, comprising 72% of total imports. The second position in the ranking was held by Russia ($X), with a 27% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Bulgaria stood at +26.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+110.5% per year) and Serbia (-66.1% per year).

Import Prices by Country

The average refined copper import price stood at $X per ton in 2021, jumping by 51% against the previous year. In general, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, refined copper import price increased by +41.4% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Bulgaria ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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