Copper Wire Price in Mexico - 2023

Copper Wire Price in Mexico (CIF) - 2023

In August 2023, the average copper wire import price amounted to $9,515 per ton, therefore, remained relatively stable against the previous month. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 an increase of 9.1% against the previous month. The import price peaked at $10,082 per ton in March 2023; however, from April 2023 to August 2023, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From August 2022 to August 2023, the rate of growth in terms of prices for the United States amounted to +0.6% per month.

Copper Wire Price in Mexico (FOB) - 2023

The average copper wire export price stood at $8,813 per ton in August 2023, shrinking by -60.5% against the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in July 2023 an increase of 159% m-o-m. As a result, the export price reached the peak level of $22,316 per ton, and then dropped sharply in the following month.

As there is only one major export destination, the average price level is determined by prices for the United States.

From August 2022 to August 2023, the rate of growth in terms of prices for the United States amounted to +0.2% per month.

Copper Wire Imports in Mexico

Copper wire imports into Mexico expanded rapidly to 122K tons in 2022, picking up by 11% compared with the previous year's figure. Overall, total imports indicated a measured increase from 2019 to 2022: its volume increased at an average annual rate of +4.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 43%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, copper wire imports soared to $1.2B in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +9.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Import of Copper Wire in Mexico (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	801	612	969	1,127	12.1%
Others	80.2	41.8	45.5	40.6	-20.3%
Total	881	654	1,015	1,168	9.9%

Top Suppliers of Copper Wire to Mexico in 2022:

United States (119.0K tons)

Copper Wire Exports in Mexico

In 2022, overseas shipments of copper wires were finally on the rise to reach 8.4K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a abrupt contraction.

In value terms, copper wire exports expanded significantly to $79M in 2022. Overall, exports, however, recorded a abrupt setback.