Spain: Copper Market 2024

Copper Market Size in Spain

For the seventh consecutive year, the Spanish copper market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2022: its value 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, consumption increased by X% against 2015 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Copper Production in Spain

In value terms, copper production fell modestly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Copper production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Copper Exports

Exports from Spain

In 2022, the amount of refined copper exported from Spain reduced rapidly to X tons, waning by X% on the previous year's figure. In general, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2014 when exports increased by X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, copper exports fell sharply to $X in 2022. Overall, exports showed a perceptible downturn. The pace of growth appeared the most rapid in 2014 with an increase of X%. The exports peaked at $X in 2021, and then reduced markedly in the following year.

Exports by Country

Italy (X tons), Egypt (X tons) and Greece (X tons) were the main destinations of copper exports from Spain, together comprising X% of total exports. Turkey, Germany, the Netherlands, Portugal, France and China lagged somewhat behind, together accounting for a further X%.

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

In value terms, Italy ($X), Egypt ($X) and Greece ($X) constituted the largest markets for copper exported from Spain worldwide, together comprising X% of total exports. Turkey, Germany, the Netherlands, France, Portugal and China lagged somewhat behind, together comprising a further X%.

The Netherlands, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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 export price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were France ($X per ton) and China ($X per ton), while the average price for exports to Portugal ($X per ton) and the Netherlands ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Imports

Imports into Spain

In 2022, approx. X tons of refined copper were imported into Spain; picking up by X% on the year before. Over the period under review, imports continue to indicate prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, copper imports soared to $X in 2022. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Democratic Republic of the Congo (X tons) constituted the largest supplier of copper to Spain, with a X% share of total imports. Moreover, copper imports from Democratic Republic of the Congo exceeded the figures recorded by the second-largest supplier, Chile (X tons), twofold. The third position in this ranking was taken by Russia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Democratic Republic of the Congo stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (X% per year) and Russia (X% per year).

In value terms, Democratic Republic of the Congo ($X) constituted the largest supplier of refined copper to Spain, comprising X% of total imports. The second position in the ranking was held by Chile ($X), with a X% share of total imports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Democratic Republic of the Congo stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (X% per year) and Russia (X% per year).

Import Prices by Country

In 2022, the average copper import price amounted to $X per ton, declining by X% against the previous year. In general, import price indicated a mild expansion 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 import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton, and then fell slightly in the following year.

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

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

Source: IndexBox Platform

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