South Africa: Copper Wire Market 2024

Copper Wire Market Size in South Africa

In 2022, after two years of growth, there was decline in the South African copper wire market, when its value decreased by X% to $X. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Copper Wire Production in South Africa

In value terms, copper wire production stood at $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable descent. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Copper Wire Exports

Exports from South Africa

In 2022, shipments abroad of copper wire increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, copper wire exports soared to $X in 2022. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), the United Arab Emirates (X tons) and Swaziland (X tons) were the main destinations of copper wire exports from South Africa, together accounting for X% of total exports.

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

In value terms, the largest markets for copper wire exported from South Africa were China ($X), the United Arab Emirates ($X) and Swaziland ($X), together comprising X% of total exports.

Swaziland, with a CAGR of X%, saw 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

The average copper wire export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, export price indicated mild 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 wire export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Zimbabwe ($X per ton) and Swaziland ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) and the United Arab Emirates ($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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into South Africa

In 2022, approx. X tons of copper wire were imported into South Africa; which is down by X% against 2021 figures. In general, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, copper wire imports dropped notably to $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then shrank sharply in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest copper wire supplier to South Africa, with a X% share of total imports. Moreover, copper wire imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold. The third position in this ranking was taken by Belgium (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Belgium (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of copper wire to South Africa, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Belgium (X% per year).

Import Prices by Country

In 2022, the average copper wire import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and the United States ($X per ton), while the price for Russia ($X per ton) and Belgium ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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