EU: Refined Copper Market 2022

Refined Copper Market Size in the EU

In 2021, the EU refined copper market increased by 20% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, saw a perceptible slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Refined Copper Production in the EU

In value terms, refined copper production stood at $X in 2021 estimated in export price. Overall, production, however, showed a deep slump. The growth pace was the most rapid in 2017 when the production volume increased by 13%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Refined Copper Exports

Exports in the EU

In 2021, after five years of growth, there was decline in shipments abroad of refined copper (unwrought, not alloyed), when their volume decreased by -3.4% to X tons. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 21% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, refined copper exports surged to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Poland (X tons), Belgium (X tons), the Netherlands (X tons), Germany (X tons), Bulgaria (X tons), Austria (X tons), Spain (X tons), Sweden (X tons) and Finland (X tons), together reaching 97% of total export.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +15.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest refined copper supplying countries in the European Union were Poland ($X), Belgium ($X) and the Netherlands ($X), with a combined 46% share of total exports.

Among the main exporting countries, the Netherlands, with a CAGR of +12.6%, recorded 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 2021, the export price in the European Union amounted to $X per ton, growing by 50% against the previous year. Export price indicated mild growth 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 export price increased by +52.8% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Finland ($X per ton) and Sweden ($X per ton), while Austria ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+2.0%), while the other leaders experienced more modest paces of growth.

Refined Copper Imports

Imports in the EU

After two years of decline, overseas purchases of refined copper (unwrought, not alloyed) increased by 7.3% to X tons in 2021. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 12%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, refined copper imports skyrocketed to $X in 2021. Total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.2% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons) and Germany (X tons) represented roughly 60% of total imports in 2021. The Netherlands (X tons) ranks next in terms of the total imports with a 10% share, followed by France (9.7%) and Spain (5.1%). Greece (X tons) and Austria (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +25.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined copper importing markets in the European Union were Italy ($X), Germany ($X) and the Netherlands ($X), together accounting for 70% of total imports.

The Netherlands, with a CAGR of +28.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, surging by 50% against the previous year. Import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.6% 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 +52.7% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Spain ($X per ton) and the Netherlands ($X per ton), while Austria ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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