ASEAN: Copper Market 2024

Copper Market Size in ASEAN

In 2023, after two years of growth, there was decline in the ASEAN copper market, when its value decreased by X% to $X. The total consumption indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2022, and then declined modestly in the following year.

Copper Production in ASEAN

In value terms, copper production stood at $X in 2023 estimated in export price. The total production indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Copper Exports

Exports in ASEAN

In 2023, shipments abroad of refined copper was finally on the rise to reach X tons after two years of decline. Over the period under review, exports posted a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, copper exports skyrocketed to $X in 2023. In general, exports showed a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, the Philippines (X tons) and Indonesia (X tons) represented the key exporters of refined copper in ASEAN, together resulting at near X% of total exports. Singapore (X tons) ranks next in terms of the total exports with a X% share, followed by Thailand (X%). The following exporters - Malaysia (X tons) and Lao People's Democratic Republic (X tons) - each recorded a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Indonesia ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Thailand, Malaysia and Lao People's Democratic Republic lagged somewhat behind, together comprising a further X%.

Thailand, 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

The export price in ASEAN stood at $X per ton in 2023, waning by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Copper Imports

Imports in ASEAN

In 2023, the amount of refined copper imported in ASEAN was estimated at X tons, stabilizing at the previous year's figure. Total imports indicated moderate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, copper imports declined to $X in 2023. Total imports indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

The countries with the highest levels of copper imports in 2023 were Thailand (X tons), Malaysia (X tons) and Vietnam (X tons), together accounting for X% of total import. It was distantly followed by Indonesia (X tons) and Singapore (X tons), together comprising a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Vietnam, with a CAGR of X%, saw 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 2023, the import price in ASEAN amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform