Secondary copper output appears stable for 2024

The production of recycled-content copper is poised to rise slightly in 2024 compared with last year, according to statistics gathered by the Lisbon-based International Copper Study Group (ICSG).

From January to November 2024, more than 4.23 million metric tons (mmt) of secondary copper were made globally, according to the ICSG. Considering that in each of the previous four months at least 378,000 metric tons of secondary copper had been made globally, the 2024 year-end figure will almost certainly surpass 4.5 mmt and could hit 4.6 mmt.

In all of 2023, the ICSG says about 4.55 mmt of secondary copper were made globally. Thus, 2024 secondary output likely will rise by 1.5 to 1.75 percent.

Last year, ICSG figures indicated the 4.55 mmt of secondary production comprised 16.9 percent of total global refined copper output in 2023, up slightly from its 16.35 percent contribution in 2022. Based on ICSG data covering the first 11 months of 2024, the secondary percentage likely will decline slightly compared with 2023 because of a 3.8 percent rise in primary refined output globally.

In a news release covering copper mining and production activity in the first 11 months of 2024, the ICSG says copper ore mined output rose last year, helping supply primary refineries.

“Global mine production benefited from a recovery from constrained output in 2023 (mainly in Chile and Indonesia) as well as additional production from mine projects ramping up to capacity, namely in the Democratic Republic of Congo (DRC), Botswana, Mongolia and Serbia,” ICSG says.

However, growth in secondary refining nearly kept pace.

“Growth in world refined production was mainly a result of strong performances in China and the DRC due to expanded capacity,” the ICSG says. “Chinese refined production is estimated to have risen by about 4.5 percent due to the start-up and expansion of a number of primary and secondary (from scrap) smelters and refineries.”