Global Copper Market
Major Copper Producers Globally
- Chile leads copper mining with Codelco’s 9 mines producing 1,423 KT.
- Freeport-McMoRan operates major mines in Indonesia (747 KT) and the USA (607.5 KT).
- Peru, DRC, and Zambia host large assets for Anglo American, Glencore, and First Quantum.
- Australia contributes through BHP (232 KT) and Glencore (30 KT).
Secondary Copper Trade — At a Glance
- Copper supply flows from South America, Australia, the USA, and the EU into Asia.
- Key importers include China (net +1.98 MT) and India (net +0.31 MT), with strong demand from Japan and South Korea.
- Major exporters include the EU (net −1.0 MT), USA (net −0.88 MT), Japan (net −0.38 MT), South America, and Australia.
- Western producers send scrap and secondary copper to Asian smelters, driving global recycling and manufacturing.
Secondary Cu Raw Material Flow
- USA has zero import duty on copper scrap, with tax incentives and federal recycling grants.
- EU maintains zero scrap duty under its Circular Economy Action Plan.
- China charges zero duty on scrap but taxes copper rod imports at 4%, using 20–25% scrap in smelters.
- Japan uses deposit-refund schemes and recycling laws for copper recovery. \
- India cut customs duty to zero in 2025 and launched a policy to formalize scrap recycling.