Middle East: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in the Middle East

The Middle Eastern market for copper bars, rods and profiles stood at $X in 2023, surging by X% against the previous year. Over the period under review, consumption, however, saw a perceptible slump. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Production of Copper Bars, Rods and Profiles in the Middle East

In value terms, copper bar, rod and profile production rose notably to $X in 2023 estimated in export price. In general, production, however, enjoyed notable growth. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Exports of Copper Bars, Rods and Profiles

Exports in the Middle East

After two years of growth, overseas shipments of copper bars, rods and profiles decreased by X% to X tons in 2023. Over the period under review, exports continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, copper bar, rod and profile exports fell to $X in 2023. Overall, exports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Turkey represented the largest exporting country with an export of about X tons, which finished at X% of total exports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Iran (X tons) and Israel (X tons). All these countries together held approx. X% share of total exports. Saudi Arabia (X tons) held a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Iran (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Iran ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Among the main exporting countries, Iran, with a CAGR of X%, recorded 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 export price in the Middle East stood at $X per ton in 2023, reducing by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2022, and then dropped in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton), while Iran ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports in the Middle East

In 2023, supplies from abroad of copper bars, rods and profiles was finally on the rise to reach X tons after three years of decline. In general, imports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, copper bar, rod and profile imports expanded remarkably to $X in 2023. Over the period under review, imports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Turkey (X tons), distantly followed by Israel (X tons), the United Arab Emirates (X tons), Oman (X tons), Kuwait (X tons) and Saudi Arabia (X tons) represented the key importers of copper bars, rods and profiles, together generating X% of total imports. Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Turkey ($X), Israel ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

In terms of the main importing countries, Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, 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 Middle East stood at $X per ton in 2023, waning by X% against the previous year. Import price indicated a slight expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, copper bar, rod and profile import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then dropped modestly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Qatar ($X per ton) and Oman ($X per ton), while Saudi Arabia ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform