Copper Wire Price in New Zealand - 2023

Contents:

1. Copper Wire Price in New Zealand (CIF) - 2023
2. Copper Wire Price in New Zealand (FOB) - 2022
3. Copper Wire Imports in New Zealand
4. Copper Wire Exports in New Zealand

Copper Wire Price in New Zealand (CIF) - 2023

The average copper wire import price stood at $9,592 per ton in September 2023, picking up by 8.7% against the previous month. Overall, the import price, however, showed a pronounced contraction. The pace of growth appeared the most rapid in April 2023 an increase of 64% m-o-m. Over the period under review, average import prices hit record highs at $17,567 per ton in October 2022; however, from November 2022 to September 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Germany ($18,667 per ton), while the price for Malaysia ($9,072 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Canada (+183.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Copper Wire Price in New Zealand (FOB) - 2022

The average copper wire export price stood at $4,644 per ton in 2022, shrinking by -39.8% against the previous year. In general, the export price recorded a mild contraction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 92% against the previous year. The export price peaked at $12,270 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($15,107 per ton), while the average price for exports to Samoa ($2,254 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+55.1%), while the prices for the other major destinations experienced mixed trend patterns.

Copper Wire Imports in New Zealand

In 2022, imports of copper wires into New Zealand contracted dramatically to 340 tons, waning by -66.9% against the year before. Over the period under review, imports continue to indicate a precipitous decline. The pace of growth appeared the most rapid in 2021 with an increase of 14%.

In value terms, copper wire imports declined dramatically to $4.5M in 2022. Overall, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. As a result, imports attained the peak of $10M, and then plummeted in the following year.

Top Suppliers of Copper Wire to New Zealand in 2022:

1. United Arab Emirates (120.0 tons)
2. China (61.9 tons)
3. Malaysia (45.5 tons)
4. Germany (22.8 tons)
5. Canada (20.6 tons)
6. Taiwan (Chinese) (17.7 tons)
7. India (17.4 tons)
8. South Korea (8.3 tons)

Copper Wire Exports in New Zealand

In 2022, shipments abroad of copper wires increased by 79% to 53 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +8.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, copper wire exports rose sharply to $247K in 2022. Overall, exports, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2021 when exports increased by 8.9% against the previous year.

Top Export Markets for Copper Wire from New Zealand in 2022:

1. India (23.8 tons)
2. Singapore (19.8 tons)
3. Canada (4.4 tons)
4. Samoa (2.9 tons)
5. Australia (1.0 tons)
6. South Africa (0.8 tons)
7. Fiji (0.1 tons)

Source: IndexBox Market Intelligence Platform