Denmark: Refined Copper Market 2022

Refined Copper Market Size in Denmark

In 2021, the Danish refined copper market was finally on the rise to reach $X after three years of decline. Overall, consumption posted a perceptible increase. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Refined Copper Production in Denmark

In value terms, refined copper production surged to $X in 2021 estimated in export price. In general, production showed a measured expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 31%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Refined Copper Exports

Exports from Denmark

In 2021, overseas shipments of refined copper (unwrought, not alloyed) decreased by -7.2% to X tons, falling for the third year in a row after two years of growth. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 1,084%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, refined copper exports soared to $X in 2021. In general, exports, however, enjoyed tangible growth. The pace of growth appeared the most rapid in 2013 when exports increased by 377% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Norway (X tons) was the main destination for refined copper exports from Denmark, with a 63% share of total exports. Moreover, refined copper exports to Norway exceeded the volume sent to the second major destination, France (X tons), fourfold. The third position in this ranking was taken by Iceland (X tons), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Norway amounted to +34.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+29.3% per year) and Iceland (-11.8% per year).

In value terms, France ($X), Norway ($X) and Sweden ($X) appeared to be the largest markets for refined copper exported from Denmark worldwide, with a combined 80% share of total exports.

In terms of the main countries of destination, Sweden, with a CAGR of +93.5%, saw the highest rates of growth with regard to 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

The average refined copper export price stood at $X per ton in 2021, picking up by 37% against the previous year. In general, the export price, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 127% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+32.8%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Copper Imports

Imports into Denmark

In 2021, the amount of refined copper (unwrought, not alloyed) imported into Denmark surged to X tons, picking up by 49% on the previous year. Overall, imports, however, recorded a abrupt slump. The growth pace was the most rapid in 2016 when imports increased by 61%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, refined copper imports skyrocketed to $X in 2021. In general, imports, however, recorded a abrupt slump. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest refined copper supplier to Denmark, accounting for a 57% share of total imports. Moreover, refined copper imports from Germany exceeded the figures recorded by the second-largest supplier, Norway (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled -23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+70.0% per year) and Sweden (+22.9% per year).

In value terms, Germany ($X) constituted the largest supplier of refined copper to Denmark, comprising 58% of total imports. The second position in the ranking was held by Norway ($X), with a 22% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to -19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+50.1% per year) and Sweden (+21.5% per year).

Import Prices by Country

In 2021, the average refined copper import price amounted to $X per ton, jumping by 40% against the previous year. In general, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, refined copper import price increased by +152.1% against 2016 indices. The growth pace was the most rapid in 2017 when the average import price increased by 55%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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