Wednesday, November 28, 2012

Quick Facts About the Global Copper Industry

  • The average US household uses about four hundred pounds of copper for various purposes -wiring, cooking, and even for automobile parts. 
  • Copper is one of the world's most versatile elements. It is recyclable and malleable, and is used in the creation of brass and bronze.
  • The Statue of Liberty is perhaps the best example of a structure that uses a great amount of copper. Nearly eighty tons were used to build it.
  • According to, there could be as much as 300 million tons of copper not yet discovered in the United States alone.
  • On average, about 85 million metric tons may be mined annually around the world.
  • In the first seven months of 2012, world mine production increased by 2.5% compared with production in the same period of 2011.
  • According  to  preliminary  International  Copper  Study  Group (ICSG) data, the refined copper market balance for July 2012 showed a production deficit of 23,000 metric tonnes.
  • The refined copper balance for the first seven month of 2012 indicates a production deficit of 524,000 tonnes. This compares with a production deficit of 73,000 tonnes in the same period of 2011
  • According to ICSG projections for 2012, world demand for refined copper is expected to exceed production of refined copper by about 400,000 metric tonnes, as supply will continue to lag behind the growth in demand. 


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