Northern America: Copper Market 2024

Copper Market Size in Northern America

The North American copper market shrank to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Copper Production in Northern America

In value terms, copper production fell slightly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Copper Exports

Exports in Northern America

In 2022, exports of refined copper in Northern America fell rapidly to X tons, reducing by X% against the previous year's figure. Overall, exports saw a noticeable curtailment. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, copper exports shrank dramatically to $X in 2022. In general, exports continue to indicate a slight descent. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

In 2022, Canada (X tons), distantly followed by the United States (X tons) were the main exporters of refined copper, together creating X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Canada (with a CAGR of X%).

In value terms, Canada ($X) and the United States ($X) appeared to be the countries with the highest levels of exports in 2022.

Canada, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, falling by X% against the previous year. Export price indicated slight growth 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 2018 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then dropped 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 Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Copper Imports

Imports in Northern America

In 2022, copper imports in Northern America declined notably to X tons, which is down by X% against 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then fell sharply in the following year.

In value terms, copper imports declined dramatically to $X in 2022. Overall, imports, however, enjoyed a measured expansion. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then fell markedly in the following year.

Imports by Country

The United States dominates imports structure, reaching X tons, which was near X% of total imports in 2022. Canada (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to copper imports into the United States stood at X%. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2022. Canada (X p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported refined copper in Northern America, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled X%.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, waning by X% against the previous year. Import price indicated modest growth 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 import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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