Singapore: Copper Stranded Wire Market 2024

Copper Stranded Wire Market Size in Singapore

In 2022, the Singaporean copper stranded wire market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, showed a prominent expansion. Over the period under review, the market attained the maximum level at $X in 2021, and then dropped significantly in the following year.

Copper Stranded Wire Production in Singapore

In value terms, copper stranded wire production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production showed a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

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Copper Stranded Wire Exports

Exports from Singapore

In 2022, shipments abroad of copper stranded wire, cables and plaited bands was finally on the rise to reach X tons after three years of decline. Overall, exports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, copper stranded wire exports surged to $X in 2022. Over the period under review, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for copper stranded wire exports from Singapore, with a X% share of total exports. Moreover, copper stranded wire exports to Indonesia exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was held by Malaysia (X tons), with an X% share.

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

In value terms, Indonesia ($X) emerged as the key foreign market for copper stranded wire, cables and plaited bands exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average copper stranded wire export price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the export price, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2020 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then contracted significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Sri Lanka ($X per ton) was amongst the lowest.

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

Copper Stranded Wire Imports

Imports into Singapore

In 2022, approx. X tons of copper stranded wire, cables and plaited bands were imported into Singapore; reducing by X% on 2021 figures. Overall, imports saw a abrupt setback. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, copper stranded wire imports dropped sharply to $X in 2022. In general, imports recorded a noticeable decrease. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then declined dramatically in the following year.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of copper stranded wire to Singapore, accounting for a X% share of total imports. Moreover, copper stranded wire imports from Vietnam exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. The third position in this ranking was held by Malaysia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Malaysia (X% per year).

In value terms, the largest copper stranded wire suppliers to Singapore were Vietnam ($X), Malaysia ($X) and the United States ($X), together comprising X% of total imports. Indonesia, India, China, Germany and Italy lagged somewhat behind, together comprising a further X%.

Indonesia, 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 copper stranded wire import price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price, however, showed a strong increase. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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