On December 27, according to the International Copper Research Group, global copper concentrate production capacity saw a significant increase in 2013 compared to the previous year. The growth rate rose to 5% from the same period in the prior year, and by 2015, it surged to an impressive 11.5% year-on-year. This indicates that copper supply was expected to be more than sufficient, creating a surplus in the market.
As China’s copper industry continued to grow, the pressure on supply eased. While copper investment slightly declined, output still experienced strong growth. According to data, from January to November 2012, fixed asset investment in the non-ferrous metal mining sector increased by 20.63% year-on-year, reaching 136.965 billion yuan—nearly matching the growth rate of the previous year. It is projected that China's copper production in 2012 would reach approximately 1.7 million tons, marking a 30.9% increase compared to the same period in 2011.
Despite the availability of overseas copper resources, domestic reserves remained limited, leading to a high level of foreign dependence. In October 2012, China imported 715,700 tons of copper, with estimates suggesting that November imports would rise to 750,000 tons. As a result, the share of domestic copper mines in the overall supply dropped to 18.3%, and the self-sufficiency rate remained low.
The abundance of raw materials led to higher processing fees for smelting companies. With ample copper ore available in 2013, production capacities expanded. The increase in processing fees reflected both the oversupply of raw materials and lower smelting costs. In 2012, long-term processing fees for copper concentrates stayed between $60/ton and $63.5/ton, up 12.4% from $56.5/ton in 2011. It is expected that these fees would rise by 20% in 2013, reaching $70/ton. The peak of domestic copper smelting production is likely to continue in 2013, with production capacity possibly exceeding that of 2012.
From the perspective of refined copper, China's output kept setting new records. In November 2012, refined copper production hit a record high of 531,000 tons, an 11.6% increase compared to the same period in 2011. It is estimated that December production could reach 550,000 tons, pushing the total refined copper output for 2012 to around 5.98 million tons. This growth highlights the strength and expansion of China's copper industry during this period.Exposed Shower System,Bathroom Shower Mixer System,Modern Bathroom Shower System,Wall Mounted Shower System
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