According to the end-use dataset, 30.6 Mtpa of copper semis were used in 2022 - see https://help.copper.fyi/hc/en-us/articles/4408226152082.
The manufacturing efficiency of copper production is around 85% [1]. Hence, ~ 26 Mtpa of copper product flows into society.
The 10-year rolling average market price for copper cathode was 6,875 $ for the period 2013-2022: https://help.copper.fyi/hc/en-us/articles/4410114502674
A 'revenue' for copper production can be estimated at 26 Mtpa * 6,875 $/tonne = 179 B$pa.
Further revenue streams generated by the copper sector:
- By-products and co-productions of copper mining, smelting and refining: Ag, Au, Cu, Mo, Ni, Pb, Zn, ... - according to SKARN Associates, these contributed over 30% of revenue in 2022 (https://www.skarnassociates.com/products/copper)
- Fabricators produce copper products typically adding 5 - 25% of value to the reference price of copper at the London Metal Exchange.
These bring the total revenue throughout the copper value chain to ~ 250 B$pa.
Note
[1] See table S4 in https://pubs.acs.org/doi/suppl/10.1021/es400069b/suppl_file/es400069b_si_001.pdf for an estimate of this parameter for copper's 16 end-use markets in the end-use dataset.
-----
Last update: October 21, 2023
-----
Join the Copper Mailing List
Subscribe to the copper mailing list and we'll send you email alerts when new webinars from the Copper Academy or updates on the Copper Tutorial. Typically, subscribers will receive 4-6 emails per year.
Comments
0 comments
Please sign in to leave a comment.