On December 27, data from the International Copper Research Group revealed that global copper concentrate production capacity grew by 5% compared to the same period in 2012. By 2015, this growth rate surged to an impressive 11.5% year-on-year, signaling a significant increase in copper supply. This trend suggests that copper will become more readily available in the coming years.
As China's copper industry continues to expand, the pressure on supply has eased. Although copper investment saw a slight decline, output remained strong and steady. According to recent data, fixed asset investment in the non-ferrous metal mining sector rose by 20.63% year-on-year through November, reaching 136.965 billion yuan. This growth is nearly on par with the previous year’s pace. It is expected that China's copper production in 2012 will reach around 1.7 million tons, marking a 30.9% increase over the same period in 2011.
Despite the abundance of overseas copper resources, China still relies heavily on foreign sources due to its limited domestic reserves. In October 2012, copper imports hit 715,700 tons, and November is projected to see an even higher figure of 750,000 tons. As a result, the share of domestic copper mines in the overall supply dropped to 18.3%, highlighting the country's high dependence on imports. The self-sufficiency rate remains low, emphasizing the need for continued exploration and resource development abroad.
The oversupply of raw materials has led to rising processing fees for smelting companies. With ample copper ore available in 2013, smelters are operating at full capacity. The increase in processing fees reflects both the availability of raw materials and lower production costs. In 2012, long-term processing fees for copper concentrates were between $60 and $63.5 per ton, up 12.4% from $56.5 per ton in 2011. Industry analysts predict a further 20% increase in 2013, pushing the fee to $70 per ton. This indicates that the peak of domestic copper smelting production is likely to continue, with production capacity possibly surpassing that of 2012.
Looking at refined copper output, China has consistently set new records. In November 2012, refined copper production reached a record high of 531,000 tons, a 11.6% increase compared to the same period last year. It is estimated that December's output will hit 550,000 tons, bringing the total for 2012 to approximately 5.98 million tons. This demonstrates the robust growth and efficiency of China's copper refining sector.Glass Holder,Bathroom Glass Toothbrush Holder,Glass Holder Brass,Shower Glass Holder
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