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U.S. - Refined Copper (Unwrought, Not Alloyed) - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Feb 1, 2025

U.S. - Refined Copper (Unwrought, Not Alloyed) - Market Analysis, Forecast, Size, Trends And Insights

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Jan 2, 2025

Hudbay's Copper World Project Fully Permitted in Arizona

Hudbay's Copper World Project in Arizona Clears Final Permitting Hurdle

The Copper World project proposed by Hudbay Minerals in Arizona has achieved a significant milestone, as it is now fully permitted for development. This news was confirmed as the firm received its final required permit from the Arizona Department of Environmental Quality, according to a report on MINING.com.

Hudbay Minerals has successfully obtained all necessary state-level approvals, consisting of air quality, aquifer protection, and land reclamation permits, allowing the company to advance its ambitions with the Copper World project. Peter Kukielski, CEO of Hudbay Minerals, expressed optimism, noting, "With the receipt of the air quality permit for Copper World, we firmly believe Hudbay now has the best fully permitted copper development project in the Americas."

The 3-P Strategy and Further Developments

The permit acquisition completed the first stage of Hudbay's strategic '3-P' plan, which consists of three prerequisites for moving forward with Copper World's sanctioning. Next on the agenda is finalizing the definitive feasibility study (DFS) aimed at achieving an internal rate of return exceeding 15%. The feasibility study is set for completion by the first half of 2026, marking the next critical phase for the project.

The final 'P' concerns a robust financing strategy, including partnership with a minority joint venture participant anticipated in early 2025. Any prospective partner will likely contribute to the DFS activities slated for 2025, along with the project's final design and construction efforts.

Copper Market Dynamics

On a broader scale, the completion of Copper World is projected to have a substantial impact on the U.S. copper market. Currently, the United States exports copper worth approximately $1.5 billion, while imports stand significantly higher at $6.6 billion, according to data from the IndexBox platform for 2023. The primary exporters of copper to the U.S. include Chile, Canada, and Peru, contributing import values of $4.6 billion, $1.1 billion, and $672.8 million respectively. Meanwhile, Mexico, Canada, and Germany are top destinations for U.S. copper exports, with values of $1.3 billion, $69.8 million, and $67.3 million respectively.

As Hudbay gears up to enhance its annual copper production by over 50% and extend the mine's operational span to at least 20 years, the Copper World project is poised to strengthen the domestic U.S. supply chain significantly. The company has reported a compelling after-tax net present value of $1.1 billion for Phase I, based on a copper price of $3.75/lb.

Following this announcement, Hudbay Minerals' shares experienced a notable rise of 5.0%, reaching C$12.24 per share, bringing its market valuation to C$4.8 billion—near the top of its 52-week range.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the refined copper market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24441330 - Unwrought unalloyed refined copper (excluding rolled, e xtruded or forged sintered products)

Country coverage:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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