South-Eastern Asia: Copper Market 2024

Copper Market Size in South-Eastern Asia

The Southeast Asian copper market declined to $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.3% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Copper Production in South-Eastern Asia

In value terms, copper production fell modestly to $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 75%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Copper Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of copper decreased by -8.2% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 542%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, copper exports shrank slightly to $X in 2022. In general, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 1,633%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of copper, namely Cambodia, Thailand and the Philippines, represented more than two-thirds of total export. Singapore (X tons) ranks next in terms of the total exports with a 12% share, followed by Malaysia (7%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +84.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), the Philippines ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2022, with a combined 81% share of total exports. Thailand, Indonesia and Malaysia lagged somewhat behind, together accounting for a further 18%.

Thailand, with a CAGR of +94.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, with an increase of 5.1% against the previous year. Over the period under review, the export price, however, continues to indicate a mild contraction. The pace of growth was the most pronounced in 2016 when the export price increased by 225%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+14.8%), while the other leaders experienced more modest paces of growth.

Copper Imports

Imports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in purchases abroad of copper, when their volume decreased by -40% to X tons. In general, imports, however, showed a noticeable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 411% against the previous year. As a result, imports reached the peak of X tons, and then shrank significantly in the following year.

In value terms, copper imports fell significantly to $X in 2022. Over the period under review, imports recorded a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of 118%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Cambodia (X tons) represented the key importer of copper, mixing up 63% of total imports. Thailand (X tons) ranks second in terms of the total imports with a 14% share, followed by Malaysia (8.2%). Singapore (X tons), Indonesia (X tons), Lao People's Democratic Republic (X tons) and Vietnam (X tons) took a minor share of total imports.

Imports into Cambodia decreased at an average annual rate of -50.0% from 2012 to 2022. At the same time, Indonesia (+20.0%) and Thailand (+9.0%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +20.0% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Lao People's Democratic Republic (-6.3%), Singapore (-8.6%) and Malaysia (-15.8%) illustrated a downward trend over the same period. While the share of Cambodia (+63 p.p.), Thailand (+6.2 p.p.) and Indonesia (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Lao People's Democratic Republic (-4.6 p.p.), Singapore (-9.6 p.p.) and Malaysia (-53.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Cambodia ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 67% share of total imports. Singapore, Indonesia, Vietnam and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 30%.

Indonesia, with a CAGR of +25.9%, recorded the highest rates of growth with regard to the value of imports, among 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 South-Eastern Asia stood at $X per ton in 2022, growing by 37% against the previous year. Overall, the import price, however, saw a abrupt shrinkage. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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