Puerto Rico: Refined Copper Market 2022

Refined Copper Market Size in Puerto Rico

The Puerto Rican refined copper market totaled less than $X in 2021, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern.

Refined Copper Exports

Exports by Country

In 2021, Chile (X tons), distantly followed by Democratic Republic of the Congo (X tons), Japan (X tons), Kazakhstan (X tons) and Russia (X tons) represented the major exporters of refined copper (unwrought, not alloyed), together committing 51% of total exports. Australia (X tons), South Korea (X tons), Poland (X tons), China (X tons), Peru (X tons), Zambia (X tons), Belgium (X tons) and the Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to refined copper exports from Chile stood at -2.6%. At the same time, the Philippines (+14.6%), Democratic Republic of the Congo (+13.0%), South Korea (+7.3%), Russia (+6.7%) and Japan (+1.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.6% from 2012-2021. Australia, Peru, Kazakhstan, China and Belgium experienced a relatively flat trend pattern. By contrast, Poland (-1.4%) and Zambia (-11.9%) illustrated a downward trend over the same period. While the share of Democratic Republic of the Congo (+7.1 p.p.), Russia (+2 p.p.), the Philippines (+1.7 p.p.) and South Korea (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Zambia (-5.3 p.p.) and Chile (-6.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest refined copper supplier from Puerto Rico, comprising 25% of global exports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with an 11% share of global exports. It was followed by Japan, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Chile was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+15.1% per year) and Japan (+2.7% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, approximately reflecting the previous year. Overall, the export price recorded a relatively flat trend pattern.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the Philippines ($X per ton) and Chile ($X per ton), while Russia ($X per ton) and Australia ($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 Philippines (+2.5%), while the other leaders experienced more modest paces of growth.

Refined Copper Imports

Imports by Country

China was the largest importing country with an import of about X tons, which accounted for 37% of total imports. The United States (X tons) held a 9.4% share (based on physical terms) of total imports, which put it in second place, followed by Italy (6.3%) and Germany (5.6%). The following importers - Taiwan (Chinese) (X tons), Thailand (X tons), the United Arab Emirates (X tons), Turkey (X tons), South Korea (X tons), Brazil (X tons), Malaysia (X tons), the Netherlands (X tons) and France (X tons) - together made up 28% of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of refined copper (unwrought, not alloyed). At the same time, the Netherlands (+25.8%), the United Arab Emirates (+25.2%), Thailand (+4.6%), the United States (+4.2%) and Malaysia (+1.3%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +25.8% from 2012-2021. South Korea, Italy, Taiwan (Chinese) and Turkey experienced a relatively flat trend pattern. By contrast, Brazil (-1.1%), France (-1.6%) and Germany (-2.0%) illustrated a downward trend over the same period. The United Arab Emirates (+3 p.p.), the United States (+2 p.p.) and the Netherlands (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while Germany and China saw its share reduced by -2.1% and -2.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported refined copper (unwrought, not alloyed) into Puerto Rico, comprising 37% of global imports. The second position in the ranking was taken by the United States ($X), with a 9.5% share of global imports. It was followed by Italy, with a 6.3% share.

In China, refined copper imports expanded at an average annual rate of +2.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United States (+6.0% per year) and Italy (+2.3% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, flattening at the previous year. Over the period under review, the import price showed a relatively flat trend pattern.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Malaysia ($X per ton) and Thailand ($X per ton), while Brazil ($X per ton) and Germany ($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

Frequently Asked Questions (FAQ) :