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Copper producers
For 2022, the main copper producers in Russia are:
All three companies also, as producers of other countries, adhere to a strategy of vertical integration, that is, they control the entire supply chain from ore mining to the production of intermediate copper products (such as copper rod).
2023
Chile, Peru and Congo lead in production
The price of copper remains above $8 thousand per ton
China develops copper industry and moves to import ore instead of finished metal
In 2023, China is rapidly developing the copper industry, which is changing the global metal flows required for the global energy transition.
The rapid capacity build-up brings a new dynamic to the market, which for 20 years has largely been determined by how much buyers in China are willing to pay. The country will still import increasing amounts of copper, but mostly in the form of ore rather than refined metal.
2022
Production growth in Russia by 1.1% to 1 million tons
In 2022, copper production in Russia increased by 1.1% compared to 2021 and amounted to 1 million tons. This is evidenced by data from BusinesStat analysts. Their study came out in May 2023.
Experts pay attention to the resumption of copper output growth in 2022. In 2018-2020 production increased and reached 1.04 million tons. In 2021, copper production decreased by 4.8% to 0.99 million tons due to a reduction in output at enterprises "," the Norilsk Nickel reasons were the temporary shutdown of the activities of the mines October"" and Taimyr"," "Norilsk enrichment plant," as well as the planned closure of the metallurgical workshop at Kola MMC"."
BusinesStat says that the key direction of copper sales in Russia is export. In the global export of refined copper, Russia's share in 2022 amounted to 10%, which makes the country a fairly large participant in the global market. Despite the tense foreign policy situation, the products of domestic non-ferrous metallurgy are still in demand abroad. At the same time, the prerequisites for the emergence of a copper shortage are now noted on the world market. Thus, in the coming years, Russia's role in providing the world industry with copper may increase.
Russia's position in the international market can also be strengthened by ongoing work on the development of copper deposits, as well as the development of new projects at existing mines. Kaz Minerals in 2022 conducted activities for the development of the Baimsky copper, gold and silver deposit in the Far East; Udokan Copper is developing the Udokan copper deposit; MMC Norilsk Nickel, which began work in 2022 to expand existing capacities and increase production. Norilsk Nickel also plans to build a plant in the Murmansk region, which will increase copper output by 40%.[1]
Copper belt in central Africa. Card
IEA expects copper demand to grow 2.7 times by 2040
Copper will play an important role in the global energy system, according to a column by the group's founder USM Alisher Usmanova on the World Economic Forum website.
"Copper is often referred to as the" new gold, "the" new oil, "or even the" metal of the future "because of its indispensable role in the low-carbon economy and high-tech industries," he writes.
In the article, Usmanov cited data from the International Energy Agency, according to which the demand for copper, nickel and graphite will dominate among minerals and metals used in environmentally friendly energy technologies by 2040. By that time, the demand for copper will grow 2.7 times compared to 2020.
2021
Share of copper exports from Russia - 3.3% of the world market
Prices exceed $10 thousand per ton
In July 2021, U.S. buyers are paying the world's highest copper prices as rising demand and logistics problems have sent futures in New York ahead of contracts in London and Shanghai.
2020: Price rise to $ US8000 a tonne
In December 2020, the price of copper exceeded $8,000 per ton for the first time in more than seven years.
The rapid growth of copper is due to the scenario of rapid recovery, China weak dollar and green signal for reflation.
2019: Growth of copper exports from Russia to 702 thousand tons
2018: 20.7 million tonnes mined. Leader - Chile
In 2018, global production amounted to 20.7 million tons, which is 800 thousand tons more than in 2017.
Large production facilities and stocks are concentrated in South America. Chile is in first place in terms of production and explored reserves, and by a wide margin.
Russia is in 10th place, increasing production by 10 thousand tons compared to 2017.
Notes
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