Copper Study Group Released 2021 Statistical Yearbook

SEATTLE (Scrap Monster): The International Copper Study Group announced publication of its 2021 Statistical Yearbook, which provides detailed world copper supply and demand data for the ten-year period from 2011 to 2020.

According to ICSG, world copper mine production rose significantly to 20.6 million metric tonnes (Mt) in 2020. This compares with the production, which had totalled 16 Mt in 2011. The concentrate production surged higher by almost one-third over the decade, whereas the SX-EW output was up by 16%. The CAGR for world copper mine output averaged at 2.9% per year over the ten-year period. The highest CAGR growth of 14.7% was recorded by DRC. Also, Chile’s share of world production decline from 33% in 2011 to 28% in 2020. On the other hand, Peru increased its share from 7.7% to 10%.

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The world refined copper production witnessed CAGR of 2.5%, rising from 19.6 Mt in 2011 to 24.5 Mt in 2020. The primary and secondary refined production was up by 2.8% and 1.2% per year, respectively. The Chinese annual refined output more than doubled from 5.2 Mt to 10 Mt during this period.

Meantime, the world apparent refined usage of the metal soared by 28% over the ten-year period, mainly driven by China. The country’s share of world copper usage increased from 40% to 50%.