Scrap Price Services

North American Scrap Prices

China Scrap Prices

India Scrap Prices

European Scrap Prices

BRUSSELS (Scrap Monster): Global annual refined copper usage increased by 31% over the 10-year period from 15.2 Mt to 19.9 Mt (annual growth rate of 3.1%), as per “2012 Statistical Yearbook” released by International Copper Study Group (ICSG).

According to ICSG data, the growth was driven by China where apparent usage over the 10-year period increased by around 5.1 Mt (+185%) and its share of world usage grew to 40% from 18% in 2002.

World usage excluding China decreased by 3.7% (465,000 t) during the period, with particularly weak usage in 2008 and 2009 due to the world economic recession.

On a regional basis, usage grew in Africa by 70% (115,000 t), in Asia ex-China by 8% (310,000 t), and in Europe ex-EU by 90% (550,000t). Usage decreased in the Americas by 18% (605,000 t), in the EU by 19% (770,000 t), and in Oceania by 36% (67,000 t).

According to ICSG data, world copper mine production rose by 18% during the 10-year period from 13.6 million metric tonnes (Mt) in 2002 to 16 Mt in 2011: copper in concentrates rose by 15% while solvent extraction-electrowinning (SX-EW) production rose by 31%.

The SX-EW share of total mine production increased from 19.5% in 2001 to 21.5% in 2011. While the mine capacity utilization rate averaged around 85.5% over the period, the rate fell sharply during latter years.

Over the 2008-2011 period, as a result of numerous factors including lower head grades, labour unrest, technical problems, and temporary shutdowns or production cuts, capacity utilization averaged only 81% and mine production grew by an average of 0.9% per year (%/yr): Mine production grew 2.7%/yr during the preceding six years and averaged 1.9% over the 10-year period.

Notable changes in annual mine production over 2002-2012 included increases of 721,000 t in China, 680,000 t in Chile and 390,000 t in Peru due to expansions and start up of new projects. The revival of the African copper belt led to an increase in African copper mine output of 780,000 (150%).

Conversely, operational issues led to a decline of 620,000 t (53%) in Indonesia compared with the 2002 production level. Output from countries that were minor producers in 2002 or where copper mining was nonexistent increased by almost one half million tons.

On a regional basis, production increased by 150% in Africa (780,000 t), 21% in Latin America (1.2 Mt), 12% in Asia (330,000 t), 5.5% in Europe (84,000 t), 3% in North America (60,000 t) and 1% in Oceania (10,000 t).