EU: Copper Market 2024

Copper Market Size in the EU

In 2023, after two years of growth, there was decline in the EU copper market, when its value decreased by X% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2022, and then reduced slightly in the following year.

Copper Production in the EU

In value terms, copper production expanded significantly to $X in 2023 estimated in export price. Over the period under review, production recorded a slight curtailment. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Copper Exports

Exports in the EU

In 2023, shipments abroad of refined copper decreased by X% to X tons, falling for the third consecutive year after five years of growth. In general, exports showed a slight slump. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, copper exports declined to $X in 2023. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, Poland (X tons), Belgium (X tons), Bulgaria (X tons), Germany (X tons), the Netherlands (X tons), Austria (X tons), Spain (X tons), Finland (X tons) and Sweden (X tons) represented the key exporter of refined copper in the European Union, generating X% of total export.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the Netherlands (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Poland ($X), Belgium ($X) and Bulgaria ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Germany, the Netherlands, Austria, Spain, Sweden and Finland lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2023, the export price in the European Union amounted to $X per ton, standing approx. at the previous year. In general, the export price showed modest growth. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. 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.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Austria ($X per ton) and Germany ($X per ton), while Belgium ($X per ton) and Finland ($X per ton) were amongst the lowest.

From 2012 to 2023, 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

After two years of growth, purchases abroad of refined copper decreased by X% to X tons in 2023. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2022, and then fell in the following year.

In value terms, copper imports contracted to $X in 2023. Total imports indicated a mild 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. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then declined in the following year.

Imports by Country

Italy (X tons) and Germany (X tons) represented roughly X% of total imports in 2023. France (X tons) ranks next in terms of the total imports with an X% share, followed by the Netherlands (X%) and Spain (X%). Greece (X tons) and Sweden (X tons) followed a long way behind the leaders.

From 2012 to 2023, 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, Italy ($X), Germany ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. The Netherlands, Spain, Greece and Sweden lagged somewhat behind, together comprising a further X%.

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

The import price in the European Union stood at $X per ton in 2023, remaining constant against the previous year. Import price indicated a modest increase from 2012 to 2023: its price 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, copper import price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in France ($X per ton) and Spain ($X per ton), while Greece ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2023, 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