Republic of Korea: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Republic of Korea

The South Korean market for copper bars, wire and plates surged to $X in 2022, rising by X% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Copper Bars, Wire And Plates in Republic of Korea

In value terms, copper bars, wire and plates production expanded notably to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Exports of Copper Bars, Wire And Plates

Exports from Republic of Korea

Copper bars, wire and plates exports from South Korea fell notably to X tons in 2022, which is down by X% compared with 2021. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, copper bars, wire and plates exports declined to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

China (X tons), the Philippines (X tons) and Japan (X tons) were the main destinations of copper bars, wire and plates exports from South Korea, together accounting for X% of total exports. Thailand, Taiwan (Chinese), Malaysia, Vietnam, the United States and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the Philippines ($X) and Japan ($X) were the largest markets for copper bars, wire and plates exported from South Korea worldwide, with a combined X% share of total exports. Taiwan (Chinese), Malaysia, Thailand, Vietnam, the United States and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for copper bars, wire and plates amounted to $X per ton, rising by X% against the previous year. In general, export price indicated temperate growth 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 bars, wire and plates export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Hong Kong SAR ($X per ton), while the average price for exports to Thailand ($X per ton) and China ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into Republic of Korea

In 2022, supplies from abroad of copper bars, wire and plates increased by X% to X tons, rising for the third consecutive year after six years of decline. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates imports surged to $X in 2022. Overall, imports recorded a modest increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of copper bars, wire and plates to South Korea, accounting for a X% share of total imports. Moreover, copper bars, wire and plates imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. Thailand (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Thailand (X% per year).

In value terms, the largest copper bars, wire and plates suppliers to South Korea were China ($X), Japan ($X) and Thailand ($X), together accounting for X% of total imports. Bulgaria, Malaysia, Germany, Vietnam, the United States and France lagged somewhat behind, together accounting for a further X%.

Bulgaria, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for copper bars, wire and plates amounted to $X per ton, reducing by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then contracted modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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