Copper

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Thanks to its high electrical and thermal conductivity, ductility and corrosion resistance, copper is widely used in various industries. Up to 75% of refined copper produced globally is used to make electrical conductors, including various types of cable and wire. Key copper-consuming industries include construction, electrical and electronic equipment, power industry, transport, machine building, and the production of various equipment and consumer goods.

China remained the largest copper consumer globally, accounting for 52% of the total in 2021. Following resurgent copper consumption in the first half of the year, demand for copper plateaued out in China as its economy fully recovered after the strictest phase of the lockdown. Refined copper consumption in China grew by 1% to 12.6 mln t for the full year. Imports of refined copper into China totalled 3.4 mln t, down 24% y-o-y, in 2021. Scrap copper imports increased by 80% to 1.7 mln t, indicating that importers were able to adapt to the new regulatory requirements for quality control of imported recyclables, with high refined copper prices as an extra stimulus. Copper concentrate imports rose by 8% to 23.4 mln t.

Copper Industry Analisis