South-Eastern Asia: Copper Market 2024

Copper Market Size in South-Eastern Asia

After two years of growth, the Southeast Asian copper market decreased by X% to $X in 2023. The total consumption indicated noticeable growth 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. The level of consumption peaked at $X in 2022, and then contracted modestly in the following year.

Copper Production in South-Eastern Asia

In value terms, copper production totaled $X in 2023 estimated in export price. The total production indicated a temperate 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 growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Copper Exports

Exports in South-Eastern Asia

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 continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, copper exports skyrocketed to $X in 2023. In general, exports enjoyed a prominent increase. The pace of growth was the most pronounced 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 stood at a somewhat lower figure.

Exports by Country

The Philippines (X tons) and Indonesia (X tons) were the largest exporters of refined copper in 2023, reaching near X% and X% of total exports, respectively. 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 amounted to 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%.

In terms of the main exporting countries, Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to 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 South-Eastern Asia amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the export prices remained at a lower figure.

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 South-Eastern Asia

In 2023, approx. X tons of refined copper were imported in South-Eastern Asia; approximately equating the year before. Total imports indicated a noticeable increase 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 pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2023, imports failed to regain momentum.

In value terms, copper imports contracted 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-year period. 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 most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. 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 purchases of the three major importers of refined copper, namely Thailand, Malaysia and Vietnam, represented more than two-thirds of total import. Indonesia (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (X%).

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

In value terms, Thailand ($X), Vietnam ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 South-Eastern Asia amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded 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. From 2022 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: 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