Price for Copper; Refined, Unwrought, Wire-Bars in Venezuela - 2022

Price for Copper; Refined, Unwrought, Wire-Bars in Venezuela (CIF) - 2022

In 2022, the average copper; refined, unwrought, wire-bars import price amounted to $5,121 per ton, remaining constant against the previous year. Overall, the import price, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 0.2% against the previous year. Over the period under review, average import prices attained the maximum at $21,030 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 Panama.

From 2012 to 2022, the rate of growth in terms of prices for Panama amounted to -14.7% per year.

Imports of Copper; Refined, Unwrought, Wire-Bars in Venezuela

For the fourth year in a row, Venezuela recorded growth in overseas purchases of copper; refined, unwrought, wire-barses, which increased by 13% to 8.5 tons in 2022. The total import volume increased at an average annual rate of +13.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, copper; refined, unwrought, wire-bars imports expanded remarkably to $43K in 2022. The total import value increased at an average annual rate of +13.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 14%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.