Refined Copper Market in the United States
Market Overview
In 
, the U.S. refined copper market increased by % to $, rising for the second year in a row after two years of decline. Overall, consumption, however, saw a mild downturn. Refined copper consumption peaked at $ in 2007; however, from 2008 to , consumption remained at a lower figure.
In value terms, refined copper production stood at $ in . Over the period under review, production, however, recorded a noticeable reduction. The growth pace was the most rapid in 2010 with an increase of % against the previous year. As a result, production reached the peak level of $. From 2011 to , production growth remained at a somewhat lower figure.
, the U.S. refined copper market increased by % to $, rising for the second year in a row after two years of decline. Overall, consumption, however, saw a mild downturn. Refined copper consumption peaked at $ in 2007; however, from 2008 to , consumption remained at a lower figure.In value terms, refined copper production stood at $
in . Over the period under review, production, however, recorded a noticeable reduction. The growth pace was the most rapid in 2010 with an increase of % against the previous year. As a result, production reached the peak level of $. From 2011 to , production growth remained at a somewhat lower figure.Consumption
In , consumption of refined copper (unwrought, not alloyed) decreased by -% to tons for the first time since 2019, thus ending a two-year rising trend. In general, consumption continues to indicate a pronounced shrinkage. Over the period under review, consumption hit record highs at tons in 2007; however, from 2008 to , consumption failed to regain momentum.
The size of the refined copper market in the United States declined to $ in , reducing by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a perceptible slump. Refined copper consumption peaked at $ in 2007; however, from 2008 to , consumption failed to regain momentum.
, consumption of refined copper (unwrought, not alloyed) decreased by -% to tons for the first time since 2019, thus ending a two-year rising trend. In general, consumption continues to indicate a pronounced shrinkage. Over the period under review, consumption hit record highs at tons in 2007; however, from 2008 to , consumption failed to regain momentum.The size of the refined copper market in the United States declined to $
in , reducing by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a perceptible slump. Refined copper consumption peaked at $ in 2007; however, from 2008 to , consumption failed to regain momentum.Market Forecast
Depressed by shrinking demand for refined copper in the United States, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to depress the market volume to tons by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of -
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Trade Balance
The United States remains a net importer of refined copper; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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