GITNUX MARKETDATA REPORT 2024

Copper Industry Statistics

Copper industry statistics provide valuable insights into production, consumption, pricing, and global trends of one of the most essential metals used in various industries.

Statistic 1

"The price of copper reached a record high of $10,460 per metric ton in March 2021."

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Statistic 2

"Global copper reserves are estimated to be around 870 million metric tons."

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Statistic 3

"Copper recycling accounts for roughly 35% of global copper production."

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Statistic 4

"The average grade of copper ores has decreased by about 25% over the last 10 years."

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Statistic 5

"In 2021, the global demand for refined copper was approximately 25 million metric tons."

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Statistic 6

"Peru is the second-largest producer of copper, with an annual production of approximately 2.4 million metric tons."

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Statistic 7

"The leading copper mining companies are Freeport-McMoRan, Codelco, and Grupo México."

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Statistic 8

"Copper's recycling rate is higher than that of any other engineering metal."

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Statistic 9

"Zambia's mining industry accounts for about 86% of the country's export revenues."

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Statistic 10

"The copper industry contributes over $75 billion annually to the U.S. economy."

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Statistic 11

"Chile is the world's largest producer of copper, accounting for approximately 28% of global mine production."

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Statistic 12

"The COVID-19 pandemic caused a significant decrease in copper demand and prices in the first half of 2020."

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Statistic 13

"In 2022, global copper mine production was estimated to be around 20 million metric tons."

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Statistic 14

"The United States is the fourth-largest producer of copper, with an annual production of about 1.27 million metric tons."

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Statistic 15

"BHP Billiton is one of the world’s largest mining companies and a leading producer of copper."

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Statistic 16

"Copper wires and cables account for about 60% of the total copper demand."

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Statistic 17

"The electric vehicle industry is projected to increase copper demand by 1.7 million metric tons by 2030."

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Statistic 18

"Copper is used in over 400 alloys."

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Statistic 19

"Copper mining and processing has a high environmental impact due to the large amounts of energy and water required."

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Statistic 20

"China is the leading consumer of copper, accounting for nearly 54% of global consumption in 2021."

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