Price for Copper; Refined and Copper Alloys, Unwrought in Latvia - 2023
Contents:
- Price for Copper; Refined and Copper Alloys, Unwrought in Latvia (FOB) - 2023
- Price for Copper; Refined and Copper Alloys, Unwrought in Latvia (CIF) - 2023
- Exports of Copper; Refined and Copper Alloys, Unwrought in Latvia
- Imports of Copper; Refined and Copper Alloys, Unwrought in Latvia
Price for Copper; Refined and Copper Alloys, Unwrought in Latvia (FOB) - 2023
In December 2023, the average export price for copper; refined and copper alloys, unwroughts amounted to $6,251 per ton, increasing by 9.5% against the previous month. Over the period under review, the export price, however, recorded a mild curtailment. The most prominent rate of growth was recorded in July 2023 when the average export price increased by 29% month-to-month. Over the period under review, the average export prices reached the peak figure at $7,859 per ton in April 2023; however, from May 2023 to December 2023, the export prices failed to regain momentum.
Average prices varied somewhat for the major external markets. In December 2023, the highest price was recorded for prices to Poland ($8,618 per ton) and Estonia ($8,016 per ton), while the average price for exports to China ($5,890 per ton) and Belgium ($6,577 per ton) were amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+1.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Copper; Refined and Copper Alloys, Unwrought in Latvia (CIF) - 2023
In December 2023, the average import price for copper; refined and copper alloys, unwroughts amounted to $6,916 per ton, dropping by -9.8% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2023 an increase of 23% against the previous month. Over the period under review, average import prices attained the peak figure at $7,951 per ton in July 2023; however, from August 2023 to December 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Spain ($28,911 per ton), while the price for Uzbekistan ($5,481 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Spain (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Copper; Refined and Copper Alloys, Unwrought in Latvia
In 2022, after three years of growth, there was significant decline in overseas shipments of copper; refined and copper alloys, unwroughts, when their volume decreased by -24.9% to 3.5K tons. The total export volume increased at an average annual rate of +1.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 19%. As a result, the exports attained the peak of 4.7K tons, and then fell rapidly in the following year.
In value terms, exports of copper; refined and copper alloys, unwroughts shrank sharply to $28M in 2022. Overall, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +16.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 64%. As a result, the exports attained the peak of $33M, and then declined notably in the following year.
| Export of Copper; Refined and Copper Alloys, Unwrought in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 8.2 | 10.1 | 18.5 | 21.4 | 37.7% |
| China | 4.3 | 5.6 | 8.9 | 3.0 | -11.3% |
| Estonia | 1.0 | 0.9 | 1.4 | 1.6 | 17.0% |
| Germany | 1.9 | 2.3 | 2.8 | 1.1 | -16.7% |
| Belgium | 1.1 | 1.0 | 1.2 | 0.3 | -35.2% |
| Others | 1.2 | 0.3 | 0.1 | 0.3 | -37.0% |
| Total | 17.7 | 20.1 | 33.0 | 27.7 | 16.1% |
Top Export Markets for Copper; Refined and Copper Alloys, Unwrought from Latvia in 2022:
- Poland (2624.2 tons)
- China (485.0 tons)
- Germany (182.2 tons)
- Estonia (171.9 tons)
- Belgium (36.7 tons)
Imports of Copper; Refined and Copper Alloys, Unwrought in Latvia
In 2022, after three years of growth, there was significant decline in overseas purchases of copper; refined and copper alloys, unwroughts, when their volume decreased by -25.9% to 2K tons. In general, total imports indicated a perceptible expansion from 2019 to 2022: its volume increased at an average annual rate of +2.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 34% against the previous year. As a result, imports reached the peak of 2.6K tons, and then dropped remarkably in the following year.
In value terms, imports of copper; refined and copper alloys, unwroughts shrank significantly to $15M in 2022. Overall, imports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 117% against the previous year. As a result, imports reached the peak of $19M, and then declined notably in the following year.
| Import of Copper; Refined and Copper Alloys, Unwrought in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 0.1 | N/A | 2.9 | 5.1 | 270.8% |
| Spain | N/A | 0.1 | 3.5 | 2.8 | 429.2% |
| Belarus | 4.5 | 3.2 | 5.3 | 2.3 | -20.0% |
| Lithuania | 1.4 | 1.9 | 2.2 | 1.5 | 2.3% |
| Uzbekistan | 0.3 | 2.7 | 3.7 | 1.1 | 54.2% |
| Estonia | 0.1 | 0.1 | 0.1 | 0.7 | 91.3% |
| Russia | 0.1 | 0.1 | 0.2 | 0.7 | 91.3% |
| Norway | 2.0 | N/A | N/A | N/A | 0% |
| Others | 0.1 | 0.5 | 0.6 | 0.6 | 81.7% |
| Total | 8.6 | 8.5 | 18.6 | 14.8 | 19.8% |
Top Suppliers of Copper; Refined and Copper Alloys, Unwrought to Latvia in 2022:
- Germany (544.8 tons)
- Belarus (355.1 tons)
- Spain (308.5 tons)
- Lithuania (246.3 tons)
- Uzbekistan (220.0 tons)
- Russia (108.5 tons)
- Estonia (90.5 tons)
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