Abstract: Production estimates: In 2021, the global copper mine production will be 21.694 million tons, a year-on-year increase of 5%. Growth rates in 2022 and 2023 are expected to be 4.4% and 4.6%, respectively. In 2021, global refined copper production is expected to be 25.183 million tons, a year-on-year increase of 4.4%. Growth rates in 2022 and 2023 are expected to be 4.1% and 3.1%, respectively.
Australian Department of Industry, Science, Energy and Resources (DISER)
Production estimates: In 2021, the global copper mine production will be 21.694 million tons, a year-on-year increase of 5%. Growth rates in 2022 and 2023 are expected to be 4.4% and 4.6%, respectively. In 2021, global refined copper production is expected to be 25.183 million tons, a year-on-year increase of 4.4%. Growth rates in 2022 and 2023 are expected to be 4.1% and 3.1%, respectively.
Consumption forecast: In 2021, the global copper consumption will be 25.977 million tons, a year-on-year increase of 3.7%. Growth rates in 2022 and 2023 are expected to be 2.3% and 3.3%, respectively.
Price forecast: The average nominal price of LME copper in 2021 will be US$9,228/ton, a year-on-year increase of 50%. 2022 and 2023 are expected to be $9,039 and $8,518/t, respectively.
Post time: Apr-12-2022