Exports of Electrolytic Copper, Copper Scrap Shoot Up in First Quarter

摘要

Korea's exports of electrolytic copper and copper scrap, which are used as major raw materials for wrought copper alloy, sharply increased in the first quarter of this year in the wake of a drop in the consumption of electrolytic copper at home caused by weak demand. In the first quarter of this year, exports of domestic electrolytic copper posted 23,073 tons with a surprising year-on-year jump of 163.2 percent from 8,766 tons. Such a phenomenon has come from anemic demand in the domestic market more than anything else. If it had been under any normal market structure, most tonnage would have been consumed in the domestic market as the self-support rate of electrolytic copper scarcely exceeds 50 percent in Korea. However, most local large-scale consumers of electrolytic copper are securing their necessary electrolytic copper from abroad on a long-term contract basis, thus resulting in an increase in the exports of domestic electrolytic copper.