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- Number of pages : 30 pages
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- Last update : 24/04/2024
Summary and extracts
1 Market overview
1.1 Definition and scope of study
Copper is a chemical element (atomic number 29, atomic weight 63.55, symbol Cu), a light-red, fairly hard, very ductile metal.it is present in nature both in free form and as minerals (chalcopyrite, azurite, cuprite, malachite), and is present in trace amounts in soil, plants and animals .
It is one of the most widely used metals in the manufacture of containers, machinery parts, electrical conduits, coins and alloys such as bronzes and brasses. The global copper market was estimated at 320.33 billion euros in 2023 and is expected to reach 454 billion euros in 2030, with an average annual growth rate of 5.1% over the period. Electrical and electronics, one of the key segments, will record a CAGR of 2.2%, reaching 11.3 million metric tons.
This metal has benefited from the rapid recovery of the global economy and its status as a key metal for electrification: its value approached the $10,000 per tonne threshold on the London Metal Exchange (LME) in 2022, and is still closing in on it in 2024, representing its highest level since August 2011. On the French market, the value of copper production fell from nearly 200 million euros during the pandemic to 700 million in 2020, before stabilizing at 1100 million euros in 2022, before recording a further decline of 160 million in 2023. It should be noted, however, that France has not produced copper in the strict sense of the word since 1998. What it does produce consists in manufacturing copper by-products from refined copper imports and recycling its own copper scrap.
France is a major consumer of copper, since its economy is dependent on it, and as a result has a very negative trade balance. Through secondary smelting, it produces only around 17% of its overall consumption.
1.2 A fast-growing global copper market dominated by China and Chile
According to GlobalData, Chile is the world's largest copper producer in ****, with production down *.**% on ****. Over the previous five years to ****, Chilean production grew at a CAGR of *.**% and is expected to increase at a CAGR of *% between **** and ****. Chile accounts for **% of world production, the other largest producers being Peru, ...
1.3 A slight dip in the French market that should not last
NAF code **.**Z covers companies in the copper metallurgy sector. This NAF code includes the following activities
copper production (***) production of copper alloys production of copper sheets, foils, rods, wires, profiles, pipes, etc production of copper tubes
Copper metallurgy market France, ****, in millions of euros Source: ****
Sales data for the copper ...
1.4 A resolutely negative trade balance
French trade balance (***) France, ****-****, in $ millions Source: ****
The chart reveals an upward trend in French exports of copper and its derivatives until ****, peaking at $*,*** million in that year, before declining slightly in **** to $*,*** million. At the same time, imports rise steadily from $*,*** million in **** to $*,*** million in ****, leading to a ...
2 Demand analysis
2.1 Typology of demand
Demand for copper revolves around several major areas of application, both domestic and non-domestic.
Copper consumption by sector World, ****, in Source: ****
In order of importance:
The consumer goods sector (***) Construction (***) Transmission and telecommunications (***) The industrial sector Transportation (***)
2.2 Demand for copper in the plumbing sector
The piping and fittings market holds up well, despite unfavorable macroeconomic conditions
Copper pipes are widely used in piping applications, thanks to their malleability and durability in the face of corrosion, heat and impact. They come in two types: unbleached copper, ideal for flush-mounting, and annealed copper, requiring visible fastenings. The ...
2.3 Demand for copper cables and wires in telecommunications
A driving force in copper demand
Size of the wire and cable and electrical installation equipment manufacturing market (***) France, ****, € billion Source: ****
The size of the wire & cable and electrical installation equipment manufacturing market in France grew steadily until ****, peaking at €*.*** billion. However, a slight decline is observed in ****, followed by a ...
2.4 The growing use of copper in electric vehicles
Copper is attracting growing interest as an essential material in the context of the energy transition. Indeed, the use of copper in low-carbon technologies, mainly in the energy and transport sectors, is greater than in more traditional energies.
Approximate mass of copper present per type of passenger car France, ****, in Kg ...
2.5 The benefits of copper in electronics
Copper is widely used in electronics for a variety of applications, including:
Printed circuit boards for electronic devices such as cell phones, computers and medical equipment. Electrical connections in electronic components such as transistors, capacitors and coils. Manufacture of cables and wires to carry electricity in electrical circuits and systems. High ...
2.6 European copper demand at the heart of the technological and energy shift to 2050
Europe's energy transition will be the main driver of growth in most base metal and silicon markets, which already include widespread uses.Aluminum and copper are widely used in the energy transition. By ****, Europe will require a new demand equivalent to **-**% of current consumption levels for the manufacture of electric ...
3 Market structure
3.1 Value chain
3.2 Companies and workforce: a market down to a handful of players
Growth in the number of companies in the copper metallurgy sector France, **** - **** Source: ****
Between **** and ****, the number of companies in the copper metallurgy sector in France fell significantly, from ** in **** to ** in ****, a drop of **.*%. This downward trend could indicate difficulties or structural changes in the industry. At the same ...
3.3 The essential role of traders in copper supply
Despite the importance of copper recycling in the French copper metallurgy process, traders are key partners for smelters.
Copper traders play a vital role in the entire supply chain for the red metal. Their primary mission is to optimize the flow of copper concentrates, while seeking to reduce the costs associated ...
4 Offer analysis
4.1 Offer typology
Which alloys for which applications?
Source: ****
Typology of copper by-products on offer
4.2 Rising copper prices: the clear cause of current copper price trends
Production price index for copper metallurgy France, **** Source: ****
The Producer Price Index for copper metallurgy in France showed a steady upward trend from January **** to September ****, rising from ***.* to ***.*. It then fell slightly until January ****, before rising again to ***.* in September ****. This overall upward trend suggests an increase in production prices ...
4.3 A potentially infinite supply of copper?
Copper: an infinitely recyclable material
Copper is a material renowned for being infinitely recyclable without altering its physical and electrical properties, offering a sustainable alternative to primary production. In France, two main processes are used to incorporate recycled copper raw materials (***): refining and smelting recycling. The former is little developed in ...
5 Regulations
5.1 Regulatory framework: safety standards
REACH regulations
The use of refined copper and its by-products in the manufacture of copper and copper alloy products is covered by the REACH registration process. It is important to note that copper and copper alloy products are not defined as a substance or mixture under Regulation (***). Thus, in accordance with ...
5.2 Legislation and draft legislation on copper recycling
Regulation of July **, ****
The European Union has established quality and processing criteria to enable copper scrap to no longer be considered as waste. These criteria are defined in a regulation published on July **. To be removed from waste status, copper scrap must meet specific quality and treatment criteria, notably limiting the ...
5.3 The problem of legislation on the use of copper in agricultural activities
The renewal of European approval for copper compounds, effective January *, ****, introduced a limit of ** kg of copper per hectare over a *-year period, regardless of intended use. This rule allows an annual average of * kg of copper/ha at the request of the marketer and subject to a favorable assessment by ...
6 Positioning the players
6.1 Positioning the players
Here is an almost exhaustive list of French copper smelters:
- BHP Billiton
- Aurubis (Richmond)
- Nexans groupe
- Silec Cable (groupe Prysmian)
- Reynolds Cuivre France
List of charts
- Copper metallurgy market
- Growth in the number of companies in the copper metallurgy sector
- French trade balance (copper and copper products)
- Main countries of destination for French copper exports
- Main countries of origin of French copper imports
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Latest news
Nexans completes the acquisition of La Triveneta Cavi, Italy's iconic cable company - 11/02/2024
- Nexans is a global giant in the manufacture of electrical cables.
- Triveneta Cavi, an Italian company specializing in low-voltage cables, is about to be acquired by Nexans.
- This acquisition should bring Nexans more than 800 million euros in additional sales.
- The deal will add four new sites to Nexans, which already owns three. Triveneta Cavi is present in 30 countries and has 700 employees.
- Worldwide demand for fire safety cables is expected to grow by +13% between 2021 and 2030.
- French plants account for 27% of the drop in electricity consumption in France.
Nexans strengthens its position in Morocco with a third plant - 14/12/2023
- Present in Morocco with two plants - one in Casablanca, the other in Mohammedia - the Nexans Group announces the construction of a third production unit by 2026.
- An investment of 100 million euros
- The future plant will develop the production of medium-voltage power cables. Over 200 direct jobs will be created.
Aurubis: victim of a massive metal theft | Metal theft at - 01/09/2023
- Aurubis is Europe's leading copper producer, producing around 1.1 million tonnes of copper every year.
- The company discovered significant discrepancies in its metal inventories linked to its recycling activity.
- An investigation has been launched by the German authorities.
Nexans invests in a third cable ship - 28/08/2023
- Nexans has announced a new cable-laying vessel for 2026 with a capacity of 13,500 tons.
- The vessel will be capable of laying four cables simultaneously.
- Nexans has signed a contract worth 1.7 billion euros, the largest in its history, with TenneT
- The offshore wind market is expected to represent a cable demand of 4 billion euros per year from 2023-2024.
- Nexans has been awarded a 1.43 billion euros contract for the EuroAsia Interconnector project.
Three groups vie for the title of top copper producer - 25/08/2023
- Codelco, Chile's national mining company, has dominated the copper market for years.
- It is about to lose its title as the world's leading copper producer to Australia's BHP and the USA's Freeport McMoRan.
- BHP could become the world's leading copper producer as early as 2024, following its acquisition of OZ Minerals and its copper mines
- Freeport McMoRan overtook Codelco last year with the start-up of a mine in Indonesia, but had to sell half of this asset for regulatory reasons.
Europe goes on the offensive against Chinese fiber optics - 13/06/2023
- Anti-dumping duties on Chinese fiber optics manufacturers are set to rise from 14.6%-33.7% to over 60% this autumn.
- In 2019, massive imports of Chinese optical fiber had led to the temporary halt of production in several European factories.
- Despite taxes, the price of Chinese optical fiber continued to fall.
- Energy consumption is seven times more expensive for European fiber optic players than for the rest of the world.
- Europe is currently 55% covered by fiber optics, while Portugal (91%), Spain (87%) and France (77%) are virtually covered.
- Chinese fiber optics giants have bought up cable factories in Spain and Poland to produce locally and avoid customs duties.
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