Copper: refined, unwrought, n.e.c. in item no. 7403.1

In 2024, copper: refined, unwrought, n.e.c. in item no. 7403.1 trade exhibited strong growth, with global flows reaching $5,225,032,496 and a three-year compound annual growth rate of +25.7% (five-year: +11.9%). The all-time peak of $6,108,600,662 was recorded in 2015; the current level is 14% below that high-water mark.

Over the 30-year observation window (1995–2024), 55% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is strengthening (+22.8% acceleration).

The World Trade Flows Characterization classifies copper: refined, unwrought, n.e.c. in item no. 7403.1 as "One-way trade" in the unclassified price segment, providing additional context for market positioning and competitive dynamics.

The supply side is moderately concentrated (Herfindahl-Hirschman Index 0.174). The three largest exporters — DR Congo ($2.0B), Pakistan ($668.4M), and Japan ($367.9M) — collectively dominate supply flows. The leading exporter has grown at +88.9% over the last three years.

On the demand side, importer concentration is concentrated (HHI 0.266). The three largest import markets are China ($2.6B), South Africa ($540.5M), and Tanzania ($434.1M). The largest importing market sources from 66 different supplying countries.

Estimated substitution elasticity: -35.90. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Pakistan → China at $657.5M, representing 25.7% of the importer's total demand.

The volatility score for copper: refined, unwrought, n.e.c. in item no. 7403.1 is 32 out of 100, classified as low. Trade flows are moderately variable, typical for goods with seasonal or cyclical demand patterns.

For market entrants, strong demand tailwinds create a favourable entry environment. A moderately concentrated market rewards differentiated positioning and strategic partner selection.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.