World’s Copper Trade In January 2023: A Comprehensive Overview
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In January 2023, the copper industry encountered significant changes in import and export volumes, resulting in fluctuations in the market. While some countries experienced a decrease in copper exports, India’s copper exports surged, marking a substantial growth in both month-on-month and year-on-year comparisons.
Copper imports and exports data
- Commodity-Wise Imports and Exports- In January 2023, the copper sector experienced significant fluctuations in import and export volumes. Imports of ores/concentrates fell 10% month-on-month (m-o-m), approx. 81,503 tons. Imports of semi-finished goods and waste declined by 24% and 8%, respectively. However, finished product shipments increased by 6% year on year.
- Country-Wise Copper Imports- Indonesia’s copper shipments declined 79% to 10,472 tons in January 2023, as compared to 49,346 tons in December 2022. Meanwhile, Chile, the world’s biggest copper producer, stopped exporting ores and concentrates in January 2023, after exporting 21,092 tons in December 2022.
- India’s Rising Copper Exports- Copper exports from India increased by 44% year-on-year (y-o-y), hitting 23,557 tons in January 2023. This impressive development was also 38% higher y-o-y from January 2022. Ores/concentrates shipments were approx. 9,205 tons in January 2023, while semi-finished product exports increased by 19%. Scrap shipments, on the other hand, declined by 13%.
- Country-Wise Copper Exports– In January 2023, China got a massive 163% increase in copper exports from India, approx. 16,369 tons. This figure also reflects a 74% year-on-year increase. Furthermore, Saudi Arabia saw a 27% y-o-y increase in copper exports from India, approx. 2,928 tons in January 2023, a significant increase over January 2022.
Insight
Finally, the copper trade saw significant shifts in January 2023, with different commodities and countries experiencing ups and downs. While some market sectors experienced decline, India’s copper exports stood out as a bright spot, exhibiting remarkable growth in both m-o-m and year-on-year comparisons.
Read More – Global Zinc Market Deficit Decreases In January 2023
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