Copper Stranded Wire Export in United States Skyrocket 16% to New Record of $44M in March 2023
U.S. Copper Stranded Wire Exports
Copper stranded wire exports from the United States soared to 3.4K tons in March 2023, with an increase of 21% compared with the previous month’s figure. Overall, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, copper stranded wire exports soared to $44M (IndexBox estimates) in March 2023. The total export value increased at an average monthly rate of +1.4% over the period from March 2022 to March 2023; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in January 2023 with an increase of 20% m-o-m. Over the period under review, the exports hit record highs in March 2023.
Exports by Country
Mexico (1.8K tons) and Canada (1.3K tons) were the main destinations of copper stranded wire exports from the United States.
From March 2022 to March 2023, the biggest increases were in Mexico (with a CAGR of +2.0%).
In value terms, Mexico ($23M) and Canada ($17M) were the largest markets for copper stranded wire exported from the United States worldwide.
Among the main countries of destination, Mexico, with a CAGR of +3.2%, recorded the highest growth rate of the value of exports, over the period under review.
Export Prices by Country
In March 2023, the copper stranded wire price stood at $12,995 per ton (FOB, US), reducing by -3.9% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2022 when the average export price increased by 15% m-o-m. The export price peaked at $14,171 per ton in May 2022; however, from June 2022 to March 2023, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major overseas markets. In March 2023, the country with the highest price was Mexico ($12,665 per ton), while the average price for exports to Canada amounted to $12,569 per ton.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+1.1%).
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