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Global copper smelting activity reached its highest point since February, driven by regions outside China, despite lower Chinese smelter activity.
Glencore enhances copper recycling capabilities through a new agreement with Cyclic Materials to supply recycled copper, crucial for electric vehicles and renewable energy demands.
Chile projects significant copper production and trade dynamics by 2025, positioning itself as a key player in the global market.
Copper prices are under pressure due to US tariffs and Chinese economic risks, with forecasts predicting significant decreases by 2025.
The IEA's report highlights the urgent need for increased copper recycling to meet the growing demand of the renewable energy transition, emphasizing strategic cooperation and advanced technologies.
In July 2024, the Copper price stood at $9,425 per ton (FOB, South Africa), decreasing by -3.2% compared to the previous month.
From 2021 to 2023, Copper saw a slight decrease in import growth, with copper imports falling to $31.7B in 2023.
Imports of Copper reached a peak of $3.6B in 2023 and are expected to continue growing in the future.
Copper exports peaked at 344K tons in 2013 but failed to regain momentum from 2014 to 2023, reaching $2.7B in value terms.
Over the period under review, Copper imports reached a peak of 720K tons in 2016, but declined thereafter. In terms of value, Copper imports dropped to $4.4B in 2023.
Explore the top import markets for copper, including China, the United States, Germany, Italy, and more. Learn about their import values and the role of copper in various industries.
The growth rate of Copper was particularly strong in November 2022, experiencing a month-on-month increase of 282%. In terms of value, copper imports reached $316M in October 2023.
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