WIM/AMA/IOM3 Copper Bulls vs Bears Debate May 1st 2014

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WIM/AMA/IOM3 Copper Bulls vs Bears Debate May 1st 2014

WIM/AMA/IOM3 Copper Bulls vs Bears Debate May 1st 2014

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  • 1. Drivers of Copper Use Change Illustrative Slides AMA Meeting Date: May 1st 2014
  • 2. Drivers of Copper Use Change 2005-2018 Industrial Production and Other Drivers of Copper Use Change Figures relate to total copper use, including direct melt scrap. IP change converted to a tonnage number. -3,000 -2,000 -1,000 0 1,000 2,000 3,000 4,000 Total Market Growthkt Cu -3,000 -2,000 -1,000 0 1,000 2,000 3,000 4,000 Change excl. Subs. & Min. Substitution & Miniaturisation Loss IP Gain kt Cu
  • 3. The Drivers, Excluding IP Change Effect of Substitution & Miniaturisation vs Structural Market Growth -1,500 -1,000 -500 0 500 1,000 1,500 2,000 Change Excl. Subs. & Min. Miniaturisation Materials Substitution kt Cu -1,500 -1,000 -500 0 500 1,000 1,500 2,000 Net Effect kt Cu
  • 4. Drivers of Copper Use Change 2005-2018 Impact on Refined Copper – Bringing in the Direct Melt Scrap Dimension Impact of substitution, miniaturisation and structural change adjusted to take account of scrap share. -1,500 -1,000 -500 0 500 1,000 1,500 2,000 Net Effectkt Cu -1,500 -1,000 -500 0 500 1,000 1,500 2,000 Scrap Share Effect Change Excl. Subs. & Min. Miniaturisation Materials Substitution kt Cu