Indonesia: Copper Market 2024

Copper Market Size in Indonesia

The Indonesian copper market dropped modestly to $X in 2022, approximately mirroring the previous year. In general, consumption showed a mild curtailment. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Copper Production in Indonesia

In value terms, copper production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a mild reduction. The pace of growth was the most pronounced in 2018 with an increase of X%. Copper production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Copper Exports

Exports from Indonesia

In 2022, shipments abroad of refined copper decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, copper exports fell to $X in 2022. Over the period under review, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

Malaysia (X tons) was the main destination for copper exports from Indonesia, with a X% share of total exports. Moreover, copper exports to Malaysia exceeded the volume sent to the second major destination, Thailand (X tons), twofold. Vietnam (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Vietnam (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for refined copper exports from Indonesia, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the average copper export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price recorded a perceptible downturn. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Thailand ($X per ton) and Malaysia ($X per ton), while the average price for exports to China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced a decline.

Copper Imports

Imports into Indonesia

In 2022, approx. X tons of refined copper were imported into Indonesia; dropping by X% against the previous year's figure. Overall, imports continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, copper imports reduced sharply to $X in 2022. Over the period under review, imports continue to indicate a slight setback. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

In 2022, Japan (X tons) constituted the largest supplier of copper to Indonesia, with a X% share of total imports. Moreover, copper imports from Japan exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), threefold. Chile (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, Japan ($X) constituted the largest supplier of refined copper to Indonesia, comprising X% of total imports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total imports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and Chile (X% per year).

Import Prices by Country

In 2022, the average copper import price amounted to $X per ton, shrinking by X% against the previous year. In general, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton, and then reduced slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and South Korea ($X per ton), while the price for Australia ($X per ton) and Chile ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :