Price for Copper; Refined, Unwrought, Billets in Iran - 2022

Price for Copper; Refined, Unwrought, Billets in Iran (FOB) - 2022

The average copper; refined, unwrought, billets export price stood at $9,904 per ton in 2022, increasing by 6.7% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper; refined, unwrought, billets export price increased by +95.8% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 83% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($11,147 per ton), while the average price for exports to the United Arab Emirates ($4,962 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 Turkey (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Copper; Refined, Unwrought, Billets in Iran (CIF) - 2022

The average copper; refined, unwrought, billets import price stood at $4,150 per ton in 2022, shrinking by -16.5% against the previous year. In general, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 22% against the previous year. The import price peaked at $11,355 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -9.6% per year.

Exports of Copper; Refined, Unwrought, Billets in Iran

In 2022, after three years of growth, there was significant decline in shipments abroad of copper; refined, unwrought, billetses, when their volume decreased by -60.5% to 963 tons. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 89% against the previous year. As a result, the exports attained the peak of 2.4K tons, and then dropped sharply in the following year.

In value terms, copper; refined, unwrought, billets exports shrank sharply to $9.5M in 2022. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 246% against the previous year. As a result, the exports reached the peak of $23M, and then dropped rapidly in the following year.

Export of Copper; Refined, Unwrought, Billets in Iran (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Turkey	1.7	2.1	9.5	4.0	33.0%
United Arab Emirates	1.5	0.9	1.2	0.6	-26.3%
China	0.3	0.5	0.6	0.2	-12.6%
Others	1.7	3.0	11.3	4.7	40.4%
Total	5.2	6.5	22.6	9.5	22.2%

Top Export Markets for Copper; Refined, Unwrought, Billets from Iran in 2022:

Turkey (354.6 tons)
United Arab Emirates (126.1 tons)
China (31.0 tons)

Imports of Copper; Refined, Unwrought, Billets in Iran

For the fourth consecutive year, Iran recorded growth in purchases abroad of copper; refined, unwrought, billetses, which increased by 20% to 77 tons in 2022. In general, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +20.0% 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 +72.8% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 20% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, copper; refined, unwrought, billets imports reached $321K in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 0.2% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.