Copper scrap drought bolsters refined copper usage

A temporary freeze in copper scrap generation boosted semi fabricators' usage of refined copper in 2020, market participants said.

Many fabricators had to use cathodes instead of copper scrap due to tightened supply, Mark Loveitt, president of the International Wrought Copper Council (IWCC), said during the "2020 Copper Demand Update: Copper Fabricator Industry During COVID-19" virtual workshop on Thursday October 22.
"The 2020 refined copper number is artificially high because of the scrap shortage," Loveitt said, with other panel members agreeing. "In 2021 scrap markets will operate more normally and suppress cathode demand."

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