The data for China's secondary copper refinery production illustrates a fluctuating trend from 2013 to 2023, with considerable variations in year-on-year growth rates. By 2023, the production stood at 2.6066 million metric tons. Over recent years, the market has experienced both increases and decreases, with significant contractions in 2016 (-3.83%) and 2020 (-14.67%). However, the sector rebounded impressively in 2021 with a 23.7% increase, tapering to lower, steadier growth rates in 2022 (2.55%) and 2023 (2.44%). The compound annual growth rate (CAGR) over the past five years up to 2023 was 3.13%, showing moderate long-term stability.
Looking ahead, forecasted data suggests a steady growth trajectory for China's secondary copper refinery production, with the volume expected to reach 2.9308 million metric tons by 2028. The anticipated 5-year CAGR from 2024 to 2028 is 1.85%, indicating a slowdown in growth compared to previous years. The overall growth rate for this forecast period is projected at 9.57%.
Future trends to watch for include the impact of new recycling technologies, changes in raw copper supply, regulatory shifts in environmental policies, and broader economic factors influencing industrial demand for copper. Additionally, market dynamics like global copper prices, trade policies, and advancements in alternative materials could also play crucial roles.
