Thursday, June 15, 2017

Copper and Brass Sales: National and Global Trends

A valuable base metal, copper has been esteemed for its role in building infrastructure and in completing even the most intricate electrical circuits. In 2016 alone, sources estimate that the worldwide use of copper has reached beyond 22 million metric tons. The International Copper Study Group (ICSG) notes that this global consumption may rise by 1.5% in the next year.

Supply Versus Demand

Though the worldwide usage for copper and its alloys is slated to grow steadily, the ICSG declares that the global copper production will exceed the usage by up to 160,000 metric tons. The US Geological Service (USGS) further puts the markets at ease by stating that nearly 72 billion metric tons of copper are found in reserves beneath the earth’s crust. And with nationwide copper recycling recovering nearly 700,000 metric tons of the material, it can be safe to say that there will be no shortage of this base metal in the near future.

Allocation by Industry

Copper and brass sales in the US exceed $7 billion annually. Though the country can produce copper from mining and from recycling to meet demands, they still import the ore from nearby nations like Chile, Canada, and Mexico.

In terms of industry, more than 44% of the US copper consumption is allotted for the construction sector. Around 19% is used in transportation equipment, with 19% of copper also set aside for the electronics industry. Other sectors that use this metal and its alloys like brass and copper include consumer products and industrial machinery.

Evidently, it can be difficult to imagine modern civilization without the influence of copper and its alloys. You can learn more about metal sales trends in the US and across the globe by consulting with your trusted metal supplier.

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