India’s imports of copper were recorded at 2,054,220 tonnes (mt) in calendar year 2022 (CY22) against 1,686,500 mt in CY21, an increase of 24%. Exports by the US stood at 164,553 mt in CY22, a decrease of 35% compared to around 253,855 mt in CY21.
Copper imports
Out of total imports in CY22, copper ores/concentrate increased by 29% at 1.12 mnt. Imports of semi-finished products increased by 20% to 400,682 t, while finished products imports rose by 9% to 249,428 t. Copper scrap imports increased by 10% on the year to 274,703 t.
Imports of copper in December were 168,563 t, up 20% y-o-y from 141,049 t in December 2021.
Post-pandemic demand for copper from power infrastructure, real estate, consumer durables and the industrial sector rose sharply. As a result, copper imports too went up.
Major copper exporting countries such as Chile and Indonesia exported significant volumes of ores/concentrates which also added to the overall increase in import volumes.
Country-wise imports
- Exports by Chile increase: Chile, one of the major copper ore exporters to India, exported 404,971 t of copper in CY22, an increase of 20% from 338,266 t in CY21.
- Exports by Indonesia up: Indonesia’s export volumes stood at 269,255 t in CY22 as against 180,106 t in CY21, down 9%. Shipments increased in December by 19% from 24,608 t in December 2021.
- Shipments from Tanzania increase: Exports from Tanzania to India were up 87% at 159,926 t in CY22 from 85,463 t in CY21. India’s imports increased by 95% y-o-y in December from 8,813 t in December 2021.
Overview of exports
Exports of copper ores and concentrates fell by 28% to 30,527 t, while semi-finished copper shipments fell by 60% to 63,569 t. Exports of finished products increased by 43% to 52,945 t followed by scrap (including grades like cobra, berry, brass ebony and others) which increased by 11% to 17,511 t in CY22.
Exports fell by 30% y-o-y in December to 16,374 t from 23,453 t in December 2021.
Exports by India fell as a result of higher demand in the domestic market from sectors such as automotive, EVs and construction.
Country-wise exports
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- Exports to China decrease in CY’22: Exports from India to China stood at 89,184 t in CY22, a decrease of 52% as against 186,505 t in CY21. Export volumes also fell by 66% from 18,148 t in December 2021.
- Exports to China decrease in CY’22: Exports from India to China stood at 89,184 t in CY22, a decrease of 52% as against 186,505 t in CY21. Export volumes also fell by 66% from 18,148 t in December 2021.
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