Price for Copper; Refined and Copper Alloys, Unwrought in Pakistan - 2023

Contents:

1. Price for Copper; Refined and Copper Alloys, Unwrought in Pakistan (FOB) - 2023
2. Price for Copper; Refined and Copper Alloys, Unwrought in Pakistan (CIF) - 2023
3. Exports of Copper; Refined and Copper Alloys, Unwrought in Pakistan
4. Imports of Copper; Refined and Copper Alloys, Unwrought in Pakistan

Price for Copper; Refined and Copper Alloys, Unwrought in Pakistan (FOB) - 2023

The average export price for copper; refined and copper alloys, unwroughts stood at $10,345 per ton in July 2023, increasing by 11% against the previous month. Over the period from August 2022 to July 2023, it increased at an average monthly rate of +2.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In July 2023, the country with the highest price was the United Arab Emirates ($10,730 per ton), while the average price for exports to China amounted to $10,338 per ton.

From August 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+7.4%).

Price for Copper; Refined and Copper Alloys, Unwrought in Pakistan (CIF) - 2023

In July 2023, the average import price for copper; refined and copper alloys, unwroughts amounted to $8,503 per ton, rising by 6.8% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 26% m-o-m. Over the period under review, average import prices reached the maximum at $9,398 per ton in August 2022; however, from September 2022 to July 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was China ($8,907 per ton), while the price for South Korea ($8,441 per ton) was amongst the lowest.

From August 2022 to July 2023, the most notable rate of growth in terms of prices was attained by South Korea (+46.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Copper; Refined and Copper Alloys, Unwrought in Pakistan

After three years of growth, shipments abroad of copper; refined and copper alloys, unwroughts decreased by -8.4% to 83K tons in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +12.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 43% against the previous year. As a result, the exports attained the peak of 90K tons, and then fell in the following year.

In value terms, exports of copper; refined and copper alloys, unwroughts rose significantly to $671M in 2022. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 88%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Top Export Markets for Copper; Refined and Copper Alloys, Unwrought from Pakistan in 2022:

1. China (82.2K tons)

Imports of Copper; Refined and Copper Alloys, Unwrought in Pakistan

In 2022, imports of copper; refined and copper alloys, unwroughts into Pakistan soared to 13K tons, increasing by 29% against the year before. The total import volume increased at an average annual rate of +9.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of copper; refined and copper alloys, unwroughts skyrocketed to $122M in 2022. Over the period under review, imports continue to indicate a significant increase. The growth pace was the most rapid in 2021 when imports increased by 56%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Copper; Refined and Copper Alloys, Unwrought to Pakistan in 2022:

1. Zambia (10.5K tons)
2. China (1.3K tons)
3. Tanzania (0.8K tons)
4. Congo (0.2K tons)
5. Switzerland (0.2K tons)

Source: IndexBox Market Intelligence Platform