Eastern Europe: Copper Market 2024

Copper Market Size in Eastern Europe

The East European copper market contracted modestly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Copper Production in Eastern Europe

In value terms, copper production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, saw a slight setback. 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 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Copper Exports

Exports in Eastern Europe

For the third year in a row, Eastern Europe recorded growth in shipments abroad of refined copper, which increased by X% to X tons in 2022. Total exports indicated a prominent increase from 2012 to 2022: its volume 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, copper exports fell slightly to $X in 2022. Over the period under review, exports posted buoyant growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then reduced modestly in the following year.

Exports by Country

Russia was the largest exporting country with an export of about X tons, which accounted for X% of total exports. It was distantly followed by Poland (X tons) and Bulgaria (X tons), together achieving a X% share of total exports.

Russia was also the fastest-growing in terms of the refined copper exports, with a CAGR of X% from 2012 to 2022. Bulgaria (X%) and Poland (X%) illustrated a downward trend over the same period. Russia (X p.p.) significantly strengthened its position in terms of the total exports, while Bulgaria and Poland saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Russia ($X) remains the largest copper supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was taken by Poland ($X), with an X% share of total exports.

In Russia, copper exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Poland (X% per year) and Bulgaria (X% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, with a decrease of X% against the previous year. Export 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 export price increased by X% against 2019 indices. 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, and then dropped modestly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Poland ($X per ton) was amongst the lowest.

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

Copper Imports

Imports in Eastern Europe

In 2022, purchases abroad of refined copper decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, copper imports declined significantly to $X in 2022. Over the period under review, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Bulgaria represented the major importing country with an import of around X tons, which recorded X% of total imports. Slovakia (X tons) took the second position in the ranking, distantly followed by Poland (X tons) and the Czech Republic (X tons). All these countries together held near X% share of total imports. The following importers - Russia (X tons) and Romania (X tons) - together made up X% of total imports.

Bulgaria was also the fastest-growing in terms of the refined copper imports, with a CAGR of X% from 2012 to 2022. At the same time, Romania (X%) and Slovakia (X%) displayed positive paces of growth. By contrast, Poland (X%), the Czech Republic (X%) and Russia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bulgaria, Slovakia and Romania increased by X, X and X percentage points, respectively.

In value terms, Bulgaria ($X) constitutes the largest market for imported refined copper in Eastern Europe, comprising X% of total imports. The second position in the ranking was taken by Slovakia ($X), with a X% share of total imports. It was followed by Poland, with an X% share.

In Bulgaria, copper imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Slovakia (X% per year) and Poland (X% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Bulgaria ($X per ton) and the Czech Republic ($X per ton), while Poland ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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