Latin America and the Caribbean: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Latin America and the Caribbean

The Latin American copper ores and concentrates market soared to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption, however, showed a abrupt curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Copper Ores And Concentrates in Latin America and the Caribbean

In value terms, copper ores and concentrates production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Copper Ores And Concentrates

Exports in Latin America and the Caribbean

In 2022, the amount of copper ores and concentrates exported in Latin America and the Caribbean contracted slightly to X tons, which is down by X% against the year before. Total exports indicated a prominent expansion from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, copper ores and concentrates exports declined markedly to $X in 2022. In general, exports, however, enjoyed temperate growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then declined significantly in the following year.

Exports by Country

In 2022, Peru (X tons) represented the largest exporter of copper ores and concentrates, constituting X% of total exports. Chile (X tons) ranks second in terms of the total exports with a X% share, followed by Mexico (X%), Panama (X%) and Brazil (X%). Ecuador (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to copper ores and concentrates exports from Peru stood at X%. At the same time, Panama (X%), Ecuador (X%), Mexico (X%), Brazil (X%) and Chile (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Panama (X p.p.), Mexico (X p.p.) and Ecuador (X p.p.) significantly strengthened its position in terms of the total exports, while Chile saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest copper ores and concentrates supplying countries in Latin America and the Caribbean were Chile ($X), Peru ($X) and Mexico ($X), with a combined X% share of total exports. Panama, Brazil and Ecuador lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Panama, with a CAGR of X%, saw 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 2022, the export price in Latin America and the Caribbean amounted to $X per ton, waning by X% against the previous year. In general, the export price saw a slight contraction. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced remarkably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Mexico ($X per ton) was amongst the lowest.

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

Imports of Copper Ores And Concentrates

Imports in Latin America and the Caribbean

In 2022, the amount of copper ores and concentrates imported in Latin America and the Caribbean rose remarkably to X tons, with an increase of X% compared with 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, copper ores and concentrates imports stood at $X in 2022. Overall, imports, however, showed a perceptible descent. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Mexico represented the major importer of copper ores and concentrates in Latin America and the Caribbean, with the volume of imports recording X tons, which was near X% of total imports in 2022. It was distantly followed by Peru (X tons) and Brazil (X tons), together mixing up a X% share of total imports. Chile (X tons) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the copper ores and concentrates imports, with a CAGR of X% from 2012 to 2022. At the same time, Peru (X%) displayed positive paces of growth. By contrast, Brazil (X%) and Chile (X%) illustrated a downward trend over the same period. While the share of Mexico (X p.p.) and Peru (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Chile (X p.p.) and Brazil (X p.p.) displayed negative dynamics.

In value terms, Mexico ($X) constitutes the largest market for imported copper ores and concentrates in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Peru ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to X%. In the other countries, the average annual rates were as follows: Peru (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, leveling off at the previous year. In general, the import price continues to indicate a noticeable decline. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Brazil ($X per ton) and Mexico ($X per ton), while Peru ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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