Sulphates; of Copper Price in Panama - 2023

Sulphates; of Copper Price in Panama (CIF) - 2022

The average sulphates; of copper import price stood at $2,099 per ton in 2022, falling by -31% against the previous year. Over the period under review, the import price saw a pronounced contraction. The growth pace was the most rapid in 2021 an increase of 40%. The import price peaked at $3,116 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($3,963 per ton), while the price for China ($1,190 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+38.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Sulphates; of Copper Price in Panama (FOB) - 2022

In 2022, the average sulphates; of copper export price amounted to $2,953 per ton, stabilizing at the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 28% against the previous year. As a result, the export price reached the peak level of $4,427 per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Venezuela.

From 2012 to 2022, the rate of growth in terms of prices for Venezuela amounted to +2.0% per year.

Sulphates; of Copper Imports in Panama

In 2022, sulphates; of copper imports into Panama soared to 39 tons, with an increase of 201% on the year before. In general, imports, however, recorded a relatively flat trend pattern.

In value terms, sulphates; of copper imports soared to $82K in 2022. Overall, imports, however, recorded a abrupt shrinkage.

Import of Sulphates; of Copper in Panama (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Mexico	24.8	20.2	4.0	35.7	12.9%
China	17.6	14.3	6.0	29.8	19.2%
Russia	N/A	N/A	N/A	11.9	0%
Colombia	2.0	1.6	0.6	3.0	14.5%
United States	4.7	3.4	1.4	0.4	-56.0%
Peru	7.4	5.3	1.6	N/A	-53.5%
Malaysia	13.9	N/A	N/A	N/A	0%
Brazil	26.5	36.4	22.5	N/A	-7.9%
Others	5.8	14.5	3.5	1.5	-36.3%
Total	103	95.6	39.6	82.2	-7.2%

Top Suppliers of Sulphates; of Copper to Panama in 2022:

China (25.0 tons)
Mexico (9.4 tons)
Russia (3.0 tons)
Colombia (1.6 tons)
United States (0.1 tons)

Sulphates; of Copper Exports in Panama

For the fourth consecutive year, Panama recorded growth in overseas shipments of sulphates; of coppers, which increased by 0.5% to 9.8 tons in 2022. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +14.1% 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 +48.5% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 47% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, sulphates; of copper exports stood at $29K in 2022. The total export value increased at an average annual rate of +9.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 28% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.