Market Data

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Demand and Supply Data

Refined Copper Production and Usage

The World Copper Factbook 2014

Refined Copper Production

World Refined Copper Production, 1960-2013

Thousand metric tonnes

Source: ICSG

20,000

17,500

15,000

12,500

10,000

7,500

5,000

2,500

1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012

Refinery Primary Refinery Secondary Refinery SX-EW

With the emergence of solvent extraction-electrowinning, (SX-EW) technology, refined copper produced from leaching ores has been on the rise, increasing from less than 1% of world refined copper production in the late 1960’s to 18% of world output in 2013.

The World Copper Factbook 2014

Trends in Refined Capacity, 1997-2017

Thousand metric tonnes copper

Source: ICSG Directory of Copper Mines and Plants - July 2014

30,000
28,000
26,000
24,000
22,000
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
-
1997	1999	2001	2003	2005	2007	2009	2011	2013	2015	2017
			Electrolytic		Electrowinning			Fire Refining

This chart shows world copper refinery capacity by refining process. The ratio between production and capacity is called the capacity utilization rate. The world refinery capacity utilization rate was around 79% in 2013.

The World Copper Factbook 2014

Refined CopperProduction byRegion, 1990-2013

Thousand metric tonnes

Source: ICSG

25,000

20,000

15,000

10,000

5,000

0 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

Africa	America	Asia	Europe	Oceania

Region with the highest output of refined copper in 1990: the Americas (4,250 kt), followed by Europe (3,000 kt)

Leading region in the world in 2013: Asia (10,340 kt) as compared to 2,500kt in 1990.

The World Copper Factbook 2014

Refined Copper Production by Country: Top 20 Countries in 2013

Thousand metric tonnes Source: ICSG

China Chile

Japan United States Russian Fed.

Germany

Congo

India Korean Rep. Zambia Poland

Australia

Belgium

Mexico

Peru

Spain Kazakhstan

Canada

Brazil Bulgaria

1,000

2,000

3,000

4,000

5,000

6,000

7,000

The World Copper Factbook 2014

Major International Trade Flows of Refined Copper1

Major Exporters of		Major Importers of
Refined Copper,		Refined Copper,
2013		2013
1.	Chile	1.	China
2.	Japan	2.	United States
3.	Australia	3.	Germany
4.	Kazakhstan	4.	Italy
5.	Poland	5.	Malaysia
6.	China	6.	Taiwan
7.	Peru	7.	Turkey
8.	Malaysia	8.	Korean Rep.
9.	India	9.	Thailand
10.	Belgium	10.	Brazil

1Figure is intended to illustrate trade flows but not actual trade routes. Detailed trade matrices are available in ICSG Statistical Yearbook.

The World Copper Factbook 2014

24,000

22,000

20,000

18,000

16,000

14,000

12,000

10,000

8,000

6,000

4,000

2,000

World Refined Copper Usage, 1900-2013

Thousand metric tonnes

Source: ICSG

Since 1900, apparent usage for refined copper has increased from less than 500 thousand tonnes to 21.2 million metric tonnes in 2013 as usage over the period grew by a compound annual growth rate of 3.4% per year.

The World Copper Factbook 2014

Refined Copper Usage by Region, 1960, 1980 & 2013

Thousand metric tonnes

Source: ICSG

	14,000
Copper	12,000
Copper	10,000
Tonnes	10,000
	8,000

Metric	6,000
Metric	4,000
Thousand	4,000
	2,000
	0
	0
	1960	1980	2013

Europe

Africa

Asia

Latin America

North America

Oceania

The key driver to global refined copper usage has been Asia, where demand has expanded more than fivefold over the last 30 years.

The World Copper Factbook 2014

World Refined Copper Usage* per Capita: 1950-2013

Sources: ICSG and US Census Bureau

3.5

3.0

2.5

Population (bln)

2.0

person per kg

1.5

1.0

0.5

0.0

1950

1955

1960

1965

1970

1975

1980

1985

1990

1995

2000

2005

2010

	World Population	Refined Copper Usage per Capita

*Refined copper is typically consumed by semis fabricators or the “first users” of refined copper, including ingot makers, master alloy plants, wire rod plants, brass mills, alloy wire mills, foundries and foil mills. As a result, per capita consumption of refined copper refers to the amount of copper consumed by industry divided by the total population and does not represent consumption of copper in finished products per person.

The World Copper Factbook 2013

Refined Copper Production

World Refined Copper Production, 1960-2012

Thousand metric tonnes

Source: ICSG

20,000

17,500

15,000

12,500

10,000

7,500

5,000

2,500

1960

1964

1968

1972

1976

1980

1984

1988

1992

1996

2000

2004

2008

2012

Refinery Primary	Refinery Secondary	Refinery SX-EW

With the emergence of solvent extraction-electrowinning (SX-EW) technology, refined copper produced from leaching ores has been on the rise, increasing from less than 1% of world refined copper production in the late 1960’s to 18% of world output in 2012.

The World Copper Factbook 2013

Trends in Refined Capacity, 1996-2016

Thousand metric tonnes copper

Source: ICSG Directory of Copper Mines and Plants - February 2013

30,000
28,000
26,000
24,000
22,000
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
-
1996	1998	2000	2002	2004	2006	2008	2010	2012	2014	2016
			Electrolytic		Electrowinning		Fire Refining

The World Copper Factbook 2013

Refined Copper Production by Region, 1990-2012

Thousand metric tonnes

Source: ICSG

10,000

9,000

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Africa

America

Asia

Europe

Oceania

Region with the highest output of refined copper in 1990: the Americas (4,250 kt), followed by Europe (3,000 kt)

Leading region in the world in 2012: Asia (9,720 kt) as compared to 2,500kt in 1990.

The World Copper Factbook 2013

Refined Copper Production by Country: Top 20 Countries in 2012

Thousand metric tonnes Source: ICSG

China

Chile

Japan United States Russian Fed.

India Germany Korean Rep. Poland Zambia Australia Congo Spain Belgium Mexico Kazakhstan Peru Canada Bulgaria Iran

1,000

2,000

3,000

4,000

5,000

6,000

The World Copper Factbook 2013

Major International Trade Flows of Refined Copper1

Major Exporters of		Major Importers of
Refined Copper,		Refined Copper,
2012		2012
1.	Chile	1.	China
2.	Japan	2.	Germany
3.	Australia	3.	United States
4.	Kazakhstan	4.	Italy
5.	Poland	5.	Taiwan
6.	Germany	6.	Turkey
7.	China	7.	Korean Rep.
8.	Zambia	8.	Brazil
9.	India	9.	Thailand
10.	Peru	10.	France

1Figure is intended to illustrate trade flows but not actual trade routes. Detailed trade matrices are available in ICSG Statistical Yearbook.

The World Copper Factbook 2013

World Refined Copper Usage, 1900-2012

Thousand metric tonnes Source: ICSG

20,000

18,000

16,000

14,000

12,000

10,000

8,000

6,000

4,000

2,000

Since 1900, demand for refined copper increased from less than 500 thousand tonnes to over 20 million metric tonnes in 2012 as demand over the period grew by a compound annual growth rate of 3.4% per year.

The World Copper Factbook 2013

Refined Copper Usage by Region, 1960, 1980 & 2012

Thousand metric tonnes Source: ICSG

Thousand Metric Tonnes Copper

Europe	Africa	Asia	Latin America	North America	Oceania

14,000

12,000

10,000

8,000

6,000

4,000

2,000

1960

1980

2012

Growth in refined copper usage has been especially strong in Asia, where demand has expanded more than fivefold over the last 30 years.

The World Copper Factbook 2013

World Refined Copper Usage* per Capita: 1950-2012

Sources: ICSG and US Census Bureau

3.5

3.0

2.5

Population (bln)

2.0

1.5

kgpersonper

1.0

0.5

0.0

1950

1955

1960

1965

1970

1975

1980

1985

1990

1995

2000

2005

2010

	World Population		Refined Copper Usage per Capita

Major Uses of Copper

Global Copper use

Total Copper Usage, Including Direct Melted Copper Scrap, 2002-2012

Source: ICSG Recyclables Survey March 2014

25,000






2004	2008	2012

ICSG Global Copper Recyclables Use, 2004-2012

Source: ICSG Recyclables Survey March 2014

2004	2006	2008	2010	2012
1,324	1,395	1,275	1,198	1,213

3,279	4,132	4,706	4,913	4,993
2,624	2,585	2,424	2,226	2,177

37	25	24	24	56

7,269	8,141	8,437	8,365	8445
9%	12%	2%	15%	1%
2,069	2,613	2,823	3,250	3,580
5,199	5,528	5,614	5,116	4,865
16,838	17,034	18,053	19,346	20,550
22,037	22,563	23,667	24,462	25,415

33%	36%	36%	34%	33%
31%	37%	36%	33%	31%
42%	41%	42%	45%	45%

29%	32%	32%	33%	33%
13%	15%	16%	12%	14%

The World Copper Factbook 2013

Total Copper Usage, Including Copper Scrap, 2002-2011

Thousand metric tonnes copper

Source: ICSG

25,000

Direct melt scrap

Refined usage

20,000

15,000

10,000

5,000

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

The World Copper Factbook 2013

ICSG Global Copper Recyclables Use, 2003-2011

Thousand metric tonnes

Source: ICSG

	2003	2004	2005	2006	2007	2008	2009	2010	2011
Americas	1,377	1,426	1,425	1,498	1,540	1,367	1,225	1,197	1,242

Asia	2,905	3,372	3,564	4,219	4,314	4,768	4,246	4,998	5,260
Europe	2,519	2,624	2,440	2,585	2,556	2,445	1,936	2,217	2,102
Africa & Oceania	42	37	37	25	29	24	23	24	33
World / Total Scrap Use	6,848	7,464	7,475	8,332	8,448	8,611	7,435	8,442	8,643
Scrap use Annual Growth	-2.7%	9.0%	0.1%	11.5%	1.4%	1.9%	-13.7%	13.5%	2.4%
Secondary refined production	1,786	2,069	2,161	2,613	2,738	2,823	2,841	3,250	3,470

Cu content of Direct Melt	5,062	5,394	5,314	5,719	5,710	5,788	4,594	5,192	5,173
Refined Usage	15,717	16,838	16,674	17,034	18,196	18,053	18,070	19,346	19,830

Total copper usage	20,779	22,232	21,988	22,753	23,906	23,841	22,664	24,538	25,003
Recycling Input Rate (RIR)	33%	34%	34%	37%	35%	36%	33%	34%	35%

Asia	30%	32%	33%	37%	34%	36%	30%	33%	34%
Europe	41%	42%	41%	41%	41%	42%	44%	45%	41%

North America	32%	30%	31%	34%	35%	33%	36%	33%	34%
Rest of the World	13%	13%	15%	15%	18%	16%	14%	12%	14%

End Uses of Lead & Zinc

Asia	Building
62%	Construction
	30%

Market Data

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Demand and Supply Data

BME Copper and ZInc Rate

BME Fortnightly Rate for Zinc

BME Virgin Metal Prices

HZL Price Circular

Government Data - Exports of Non Ferrous Metals

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	Americas		Industrial
	Americas		12%
Europe	14%		12%
	14%

20%		Equipment
		30%	Transport
			Transport
			13%
ROW
6%
			Infrastructure
			15%
	Asia	Building
	Asia	Construction
	60%	Construction
	60%	30%
		30%

33%	36%	36%	34%	33%
31%	37%	36%	33%	31%
42%	41%	42%	45%	45%

29%	32%	32%	33%	33%
13%	15%	16%	12%	14%

33%	36%	36%	34%	33%
31%	37%	36%	33%	31%
42%	41%	42%	45%	45%

29%	32%	32%	33%	33%
13%	15%	16%	12%	14%

33%	36%	36%	34%	33%
31%	37%	36%	33%	31%
42%	41%	42%	45%	45%

29%	32%	32%	33%	33%
13%	15%	16%	12%	14%