Market Survey on Copper - Indian Bureau of Mines

ased on imported concentrates. India also imported copper scrap, alloys of copper
and refined copper.
The imports of copper ores & concentrates during 2008-09 were 2265 thousand
tonnes as compared to 1914 thousand tonnes in 2007-08 an increase of 18% mainly
from Chile and Australia. The exports of refined copper from India reached to a
maximum at 236 thousand tonnes in 2006 but in 2009 the exports of refined copper
was decreased to 185 thousand tonnes. The exports of refined copper were mainly to
China and Saudi Arabia.
The worldwide trading of base metals has resulted in wide fluctuation in prices.
As per LME prices, the copper prices peaked to $ 8985 per tonne in 2008 from a low
of $ 1101 per tonnes in 1993 and settled at an average price of $ 7539.32 in 2010.
There are industries based on copper in the country. The demand of copper is
increasing day by day with the expansion in electrical, electronic and
telecommunication industries. The recycling of copper is adding to the total
production of copper in the country. There was only one producer of copper namely
HCL, based on indigenous copper concentrates. Now the production of primary
copper is by Sterlite Industries Ltd. & Birla Copper from imported concentrates. This
has changed the entire scenario by emerging India as self sufficient and exporter
country of copper. Against an apparent production of 639 thousand tonnes in 2009-
10, there was an apparent consumption of 451 thousand tonnes by all industries in
2009-10, leaving a balance of 200 thousand tonnes for exports. The apparent
consumption of 496 thousand tonnes in 2008-09 has been considered to forecast the
demand.
The total demand forecast for copper in 2024-25 has been estimated at 2.3
million tonnes on the basis of sectorial growth which is below the projected copper
metal production at 2.8 million tonnes from both primary and secondary sources.
Hence there seems to be no problem in the availability of copper metal.
World Future Scenario beyond 2010
The forecast in respect of copper consumption in world have been arrived by
calculating the compounded annual growth rate of refined copper consumption from
the year 2001 to 2010 in respect of World, Europe, America, Africa, Asia and
Oceania. It has been observed that the average growth of refined copper consumption
is 3.20% while area-wise growth rates are negative in Europe, America and Oceania.
The growth rates in the developing and under developed countries are on the positive
side and in Asia there is a healthy growth rate of 8.18% and in Africa it is 1.78%.
The World Bank projected a GDP growth of 3.3% in 2010 and 2011 while in
2012 the forecast is 3.5% from a level of negative growth of (-) 2.1% in 2009.
On the basis of these growth rates the consumption of refined copper in the
World has been arrived at 31 million tonnes (CAGR 3.2%) in respect of entire World
while on the basis of growth rates in different areas the consumption of refined copper
have been estimated at 46 million tonnes in 2025.
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