The World Bureau of Metal Statistics (WBMS) has compiled the following

statistics for refined copper for 2019.

Production. Global output totaled 23.724 million metric tons, a year-onyear growth of 0.32%. The top five producers were China, Chile, Japan,

U.S., and Russia, together accounting for 64.46% of the world’s total.

Asia as a whole was still the top producer; and the Americas and Africa

remained the main output areas for hydrometallurgy-produced copper.

Trends in recent years indicate that China has been a major contributor

to the global growth in output. Given the rapid expansion of its refining

capacity, China is expected to maintain a high level of output for refined

copper in the coming two years.

Consumption. The world’s total was 23.8183 million metric tons, down

by 0.45% year-on-year. The top five consumers were China, U.S., Japan,

Germany, and South Korea, together accounting for 17.226 million tons,

or 72.32%, of the global total. Region-wise, Asia was still the world’s

largest copper consumer. China remained a major growth driver for

global consumption. According to the China Nonferrous Metals Industry

Association (CNMIA), China consumed 12.08 million metric tons (or

12.7995 million metric tons according to WBMS) of refined copper in 2019,

representing 50.72% of the worldwide consumption. Most of the European

and American countries recorded stable or slightly higher consumption

level, also boosting the world’s total. Compared with the global production

level, there was a supply gap of about 89,200 metric tons in 2019.

Import. Global import amounted to 8.2718 million metric tons, down

by 9.11% year-on-year. Top four importers were China, U.S., Italy, and

Germany, which together accounted for 63.13% of the world’s total and

were also among the largest copper consumers.

Export. Global export volume shrunk by 7.90% to 7.7488 million metric

tons. Top three exporters were Chile, Russia, and Japan, together

representing 44.39% of the world’s total.

声明：本资料仅用于投资者教育，不构成任何投资建议。我们力求本资料信息准确可靠，但对这些信息的准确性、完整性或及时性不作保证，亦不对因使用该等信息而引发的损失承担任何责任，投资者不应以该等信息取代其独立判断或仅根据该等信息做出决策。基金有风险，投资须谨慎。