US: Copper imports and exports down y-o-y in CY'22

US' imports of copper were recorded at 1,445,079 tonnes (t) in Calendar Year (CY'22) against 1,590,415 t in CY'21, a fall by 9%. The export volume of the US stood at 1,699,912 t in CY'22, a decrease of 4% as compared to CY'21 which was around 1,776,055 t.

US' import overview

Out of the total imports in CY'22, semi-finished products were down by 20% to 738,079 t, finished products, up by 11% to 578,331 t. Copper scrap imports decreased by 9% to 128,668 t.

The m-o-m import volume of copper to the US was 98,493 t in December 2022 from 98,073 t in November 2022.

The import volumes of copper in December 2022 were 98,493 t from 137,399 t in December 2021, down by 28% y-o-y.

The US recorded a decline in the import volumes of copper by over 9% in CY'22 y-o-y. The fall happened because Chile, a major copper producing country had decreased the export volumes to the US by 24% as compared against CY'21, which has an impact on the overall import figures in 2022.

Country-wise imports

• Exports from Chile decrease in CY'22: Export volumes stood at 463,251 t in CY'22, with a decrease of 24% from 607,182 t in CY'21. Export volumes also decreased by 65% y-o-y from 45,347 t in December 2021.
  
  
• Exports from Canada down in CY'22: Canada's export volumes fell to 388,140 t in CY'22 as against 425,191 t in CY'21, down by 9%. Shipments increased in December 2022 by 19% from 24,608 t in December 2021.
  
  
• Exports from Mexico decrease in CY'22: Exports from Mexico to the US were marginally down by 2% to 171,356 t in CY'22 from 17,5491 t in CY'21. The y-o-y volumes plunged by 45% from 25,507 t in December 2021.
  
  

US' export overview

The exports of copper ores and concentrates were down by 2% to 354,486 t, semi-finished products were drastically down by 44% to 123,135 t, finished products inched up by 4% to 290,577 t followed by scrap which increased by 2% to 931,714 t in CY'22.

The m-o-m export volume of copper from the US was 137,651 t in December 2022 from 142,630 t in November 2022.

Copper exports to Mexico and Canada from the US have significantly declined y-o-y in CY'22 by over 12%. This culminated into the overall fall of the export volume in CY'22.

Country-wise exports

• Imports to Mexico decrease in CY'22: The export volume from the US stood at 484,209 t in CY'22, a decrease of 11% as against 544,146 t in CY'21. Export volumes were up by 32% from 32,936 t in December 2021.
  
  
• Imports to Canada down in CY'22: Export volumes from the US to Canada were at 255,558 t, down by 11% in CY'22 as compared to around 286,282 t in CY'21. The y-o-y volume stood at 23,251 t in December 2022, a rise of 16% compared to December 2021.