Price for Winding Wire of Copper in Mexico - 2023
Contents:
- Price for Winding Wire of Copper in Mexico (FOB) - 2023
- Price for Winding Wire of Copper in Mexico (CIF) - 2023
- Exports of Winding Wire of Copper in Mexico
- Imports of Winding Wire of Copper in Mexico
Price for Winding Wire of Copper in Mexico (FOB) - 2023
In June 2023, the average winding wire of copper export price amounted to $10,244 per ton, waning by -2.3% against the previous month. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 4.6% m-o-m. The export price peaked at $11,344 per ton in June 2022; however, from July 2022 to June 2023, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From June 2022 to June 2023, the rate of growth in terms of prices for the United States amounted to -0.8% per month.
Price for Winding Wire of Copper in Mexico (CIF) - 2023
In June 2023, the average winding wire of copper import price amounted to $12,219 per ton, almost unchanged from the previous month. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 an increase of 9.7% against the previous month. Over the period under review, average import prices attained the maximum at $12,526 per ton in February 2023; however, from March 2023 to June 2023, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In June 2023, the countries with the highest prices were Canada ($13,164 per ton) and Brazil ($12,058 per ton), while the price for China ($11,515 per ton) and the United States ($12,017 per ton) were amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Brazil (+0.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Winding Wire of Copper in Mexico
In 2022, the amount of winding wire of coppers exported from Mexico stood at 39K tons, standing approx. at the previous year. The total export volume increased at an average annual rate of +6.8% 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 26% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, winding wire of copper exports reached $421M in 2022. In general, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +18.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 60% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Winding Wire of Copper in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 248 | 247 | 406 | 414 | 18.6% |
| Others | 8.1 | 8.0 | 2.2 | 7.7 | -1.7% |
| Total | 256 | 255 | 408 | 421 | 18.0% |
Top Export Markets for Winding Wire of Copper from Mexico in 2022:
- United States (37.9K tons)
Imports of Winding Wire of Copper in Mexico
In 2022, the amount of winding wire of coppers imported into Mexico fell modestly to 20K tons, dropping by -2.6% on 2021 figures. In general, imports showed a pronounced reduction. The pace of growth was the most pronounced in 2021 when imports increased by 0.3%.
In value terms, winding wire of copper imports expanded sharply to $238M in 2022. The total import value increased at an average annual rate of +7.9% from 2019 to 2022; 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 29% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.
| Import of Winding Wire of Copper in Mexico (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 162 | 149 | 194 | 204 | 8.0% |
| Canada | 15.1 | 14.2 | 17.6 | 16.5 | 3.0% |
| China | 2.6 | 3.2 | 7.6 | 9.1 | 51.8% |
| Brazil | 1.7 | 2.0 | 1.9 | 4.0 | 33.0% |
| Others | 8.4 | 7.4 | 4.2 | 3.9 | -22.6% |
| Total | 189 | 175 | 225 | 238 | 8.0% |
Top Suppliers of Winding Wire of Copper to Mexico in 2022:
- United States (17.3K tons)
- Canada (1.3K tons)
- China (0.7K tons)
- Brazil (0.4K tons)
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