Global Copper Smelting Landscape Sees Big Changes

Recently, the latest research report released by Wood Mackenzie, an internationally renowned consulting organisation, reveals the significant

 changes that the global copper smelting landscape is undergoing. The report points out that a series of new copper smelting facilities

 will come on stream this year outside of China. This trend not only signals significant growth in global copper smelting capacity, but also 

signals that the global copper supply chain is gradually diversifying.

The report notes that new copper smelting capacity will be launched or added in a number of countries, including India, Indonesia and Congo, 

during this year. India's customised smelter, Indonesia's two integrated smelters, and Congo's new smelter, which is expected to be completed in 2025, 

all demonstrate these countries' strong determination to upgrade their copper smelting capacity. Notably, the new smelter in Congo is mainly driven

 by Chinese investment, which further highlights China's influence and participation in the global copper industry chain.

Wood Mackenzie estimates that these additions will increase global smelting capacity by 1.6 million tonnes, the largest increase in smelting capacity 

outside of China in decades. This change will not only help ease the tight global copper supply situation, but also provide a new impetus for the

 diversification of the international copper market.

At the same time, the report also points out that there are no plans for new primary smelting capacity in North America and Europe. Instead, 

developed countries such as the United States are focusing more on the secondary market and copper scrap recycling. This trend reflects the

 more sustainable and environmentally friendly development strategies adopted by these countries in the face of resource constraints and 

environmental pressures.

Despite the growth of copper smelting capacity outside China, China's dominant position in the global copper supply chain remains unshakeable. 

As one of the world's largest copper consumers and producers, China not only has huge market demand and a perfect industrial chain system,

 but also has significant advantages in technological innovation and cost control. These factors together determine China's core position in 

the global copper market.