The volumes of refined copper production
4 February 2015
ICSG, the International Copper Study Group, published the results for the year 2014. The data provided indicate a sizeable increase in the volume of scrap produced from refined copper. During the 3 quarters of 2014 from the processing of copper scrap output was obtained in the amount of 3.113 million. Tons. This result is higher than the same period last year, when the volume was 2.783 million. Tons, almost 12%. World production of primary copper increased by 7.5% over the period. Also, according to ICSG world production of refined copper rose almost 8% over 12 months, which amounted to 16,815,000. Tons. In 2013 the output of refined copper for 9mesyachny period was 15,520,000. Tons.
In 2014, significantly increased the global demand for products made of copper, accounting for more than 11%, to the level of 17,394,000. Tons. At the same time a deficit in the copper market in the amount of 578 thous. Tons. This is quite an impressive leap, given that in 2013 the deficit amounted to 133 thousand. Tonnes. ICSG Experts say that the growth of the production of the red metal has affected China's stable demand. Volumes of consumption thus increased by 19% over the period. Import refined copper in China has increased by 20%. The use of copper production capacity was 81% globally in 2014, which exceeds the 2013 figures, when the figures were 78%.
In China in late 2014, most of the consumption of refined copper was in the energy sector. In early 2014 the consumption volume was significantly less, given the complexity of lending, affecting users of failures. While in previous years in the area of energy accounted for over 50% of copper production, then in 2014 it was no exception. If in 2015 the situation will not change, may decrease the rate of imports of copper. Accordingly, there will be some changes in the formation of the metal price on the international market.
According to industry representatives, experts expected an increase of investments in the energy sector at a rate of 10% last year. However, contrary to the analysis made, there was a decrease of investments at the level of 0.6% with respect to 2013. Analysts believe that the overall consumption in China will increase copper production by 6.7% to reach 8.7 mln. Tons.
