According to WBMS, the world’s total consumption of 

refined copper in 2020 was 24.91 million metric tons, 

up by 4.39% year-on-year. The top five consumers 

were China, U.S., Germany Japan, and South Korea, 

consuming 18.85 million metric tons, accounting for 

75.69% of the global total. Region-wise, Asia was still 

the world’s largest consumer. China remained a major 

driver for global consumption growth. Despite the 

impact of Covid-19, China takes the lead in resuming 

work and production, and consumed 14.53 million 

metric tons of refined copper in 2020, up by 13.51% 

year-on-year, representing 58.33% of the worldwide 

consumption. The consumption of European and 

American countries has declined to varying degrees. 

Compared with the global production level, there was a 

supply gap of about 1.09 million metric tons in 2020.

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