Western Africa: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in Western Africa

The West African copper ores and concentrates market expanded notably to $X in 2022, growing by X% against the previous year. In general, consumption enjoyed a resilient expansion. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Production of Copper Ores And Concentrates in Western Africa

In value terms, copper ores and concentrates production expanded to $X in 2022 estimated in export price. The total production indicated strong growth 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Exports of Copper Ores And Concentrates

Exports in Western Africa

In 2022, the amount of copper ores and concentrates exported in Western Africa fell significantly to X tons, declining by X% compared with 2021 figures. In general, exports faced a abrupt decline. The growth pace was the most rapid in 2015 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, copper ores and concentrates exports declined dramatically to $X in 2022. Over the period under review, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Mauritania dominates exports structure, reaching X tons, which was approx. X% of total exports in 2022. Guinea (X tons) held a minor share of total exports.

Mauritania was also the fastest-growing in terms of the copper ores and concentrates exports, with a CAGR of X% from 2012 to 2022. Guinea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mauritania increased by X percentage points.

In value terms, Mauritania ($X) remains the largest copper ores and concentrates supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Guinea ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Mauritania stood at X%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, leveling off at the previous year. Export price indicated notable 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 ores and concentrates export price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then dropped slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Guinea ($X per ton), while Mauritania amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (X%).

Imports of Copper Ores And Concentrates

Imports in Western Africa

In 2022, after two years of growth, there was significant decline in overseas purchases of copper ores and concentrates, when their volume decreased by X% to X kg. Over the period under review, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, copper ores and concentrates imports fell rapidly to $X in 2022. Overall, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then declined rapidly in the following year.

Imports by Country

Guinea-Bissau (X kg) and Nigeria (X kg) dominates imports structure, together constituting X% of total imports. The following importers - Cote d'Ivoire (X kg) and Mauritania (X kg) - each finished at a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mauritania (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest copper ores and concentrates importing markets in Western Africa were Nigeria ($X), Guinea-Bissau ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Mauritania lagged somewhat behind, accounting for a further X%.

Mauritania, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, flattening at the previous year. Overall, the import price, however, saw a remarkable increase. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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