EU: Copper Market 2024

Copper Market Size in the EU

In 2022, the EU copper market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Copper Production in the EU

In value terms, copper production shrank to $X in 2022 estimated in export price. Overall, production showed a noticeable setback. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Copper Exports

Exports in the EU

In 2022, shipments abroad of refined copper decreased by X% to X tons, falling for the second year in a row after five years of growth. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, copper exports contracted slightly to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then contracted modestly in the following year.

Exports by Country

The shipments of the five major exporters of refined copper, namely Poland, the Netherlands, Belgium, Germany and Bulgaria, represented more than two-thirds of total export. Austria (X tons) ranks next in terms of the total exports with a X% share, followed by Sweden (X%), Spain (X%) and Finland (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Netherlands (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest copper supplying countries in the European Union were Poland ($X), the Netherlands ($X) and Belgium ($X), together accounting for X% of total exports.

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

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, falling by X% against the previous year. Export price indicated a modest increase 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 export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the Netherlands ($X per ton) and Finland ($X per ton), while Spain ($X per ton) and Sweden ($X per ton) were amongst the lowest.

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

Copper Imports

Imports in the EU

In 2022, supplies from abroad of refined copper increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, copper imports expanded notably to $X in 2022. Total imports 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, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Germany (X tons) and Italy (X tons) represented roughly X% of total imports in 2022. The Netherlands (X tons) held the next position in the ranking, followed by France (X tons) and Spain (X tons). All these countries together took near X% share of total imports. Greece (X tons) and Belgium (X tons) took a little share of total imports.

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

In value terms, the largest copper importing markets in the European Union were Germany ($X), Italy ($X) and the Netherlands ($X), together accounting for X% of total imports.

The Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, waning by X% against the previous year. Import price indicated a modest 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 pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined slightly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Belgium ($X per ton) and Spain ($X per ton), while Germany ($X per ton) and Italy ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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