Copper Wire Price in Kuwait - 2021

Contents:

1. Copper Wire Price in Kuwait (CIF) - 2022
2. Copper Wire Price in Kuwait (FOB) - 2021
3. Copper Wire Imports in Kuwait
4. Copper Wire Exports in Kuwait

Copper Wire Price in Kuwait (CIF) - 2022

In 2022, the average copper wire import price amounted to $5,810 per ton, declining by -17.1% against the previous year. Over the period under review, the import price continues to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2017 an increase of 28%. Over the period under review, average import prices hit record highs at $7,647 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($18,802 per ton), while the price for Egypt ($2,298 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Copper Wire Price in Kuwait (FOB) - 2021

The average copper wire export price stood at $5,327 per ton in December 2021, surging by 16% against the previous month. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in April 2021 an increase of 53% m-o-m. Over the period under review, the average export prices reached the peak figure at $8,601 per ton in October 2021; however, from November 2021 to December 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In December 2021, the country with the highest price was the United Arab Emirates ($6,016 per ton), while the average price for exports to Bahrain amounted to $4,925 per ton.

From January 2021 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+3.5%), while the prices for the other major destinations experienced a decline.

Copper Wire Imports in Kuwait

Copper wire imports into Kuwait surged to 23K tons in 2022, increasing by 26% compared with the previous year. Over the period under review, total imports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +23.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +85.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 82%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, copper wire imports expanded to $133M in 2022. In general, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +15.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -4.1% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 60%. As a result, imports attained the peak of $138M. From 2021 to 2022, the growth of imports failed to regain momentum.

Top Suppliers of Copper Wire to Kuwait in 2022:

1. Russia (13.8K tons)
2. Jordan (2.8K tons)
3. United Arab Emirates (2.7K tons)
4. Egypt (1.4K tons)
5. Lebanon (0.8K tons)
6. Turkey (0.3K tons)

Copper Wire Exports in Kuwait

After three years of growth, overseas shipments of copper wires decreased by -4.3% to 1.7K tons in 2022. The total export volume increased at an average annual rate of +6.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2020 with an increase of 16%.

In value terms, copper wire exports fell remarkably to $7.8M in 2022. Overall, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +8.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 46% against the previous year. As a result, the exports reached the peak of $9.3M, and then shrank rapidly in the following year.

Top Export Markets for Copper Wire from Kuwait in 2022:

1. United Arab Emirates (860.0 tons)
2. Bahrain (591.7 tons)
3. Qatar (147.3 tons)
4. Jordan (102.3 tons)
5. Iraq (11.7 tons)

Source: IndexBox Market Intelligence Platform