July 1, 2004
FOR IMMEDIATE RELEASE
NEW YORK, NY—
U.S. copper usage dropped for the third year in a row. The 2003 level of 6,984 million pounds is a 4.6% decrease from the revised 2002 level of 7,324 million pounds. Exports of mill products in 2003 fell also, down 1.5% to 742 million pounds. Imports, at 960 million pounds, were up 1.2% from the previous year.
U.S. copper mine production dropped slightly by 2.0% to 2,460 million pounds from last year's 2,512 million pounds, according to "Annual Data 2004 - Copper Supply and Consumption, 1983-2003," published this month by the Copper Development Association Inc. The report covers the industry's vital statistics from mine to end-use market over the past two decades and may be viewed in the Market Data section.
Electrowon copper production was down 1.5% at 1,304 million pounds, while smelter production at 1,188 million pounds represented a decline of 21.1%. Total production of refined copper at 2,880 million pounds dipped 13.6% from 2002 levels, and consumption of refined copper at 5,062 million pounds was down 3.1%. The direct consumption of scrap was down by 5.2% at 2,042 million pounds.
Building construction (3,382 million pounds) continued to be the largest end-use market for copper products, accounting for nearly half, 48.4%, of total U.S. usage. Electrical and electronic products (1,450 million pounds) accounted for 20.7% of total usage; consumer and general products (759 million pounds), 10.9%; transportation equipment (724 million pounds), 10.4%; and industrial machinery and equipment (675 million pounds), 9.6%.
Building Construction: building wire, plumbing and heating, air conditioning and commercial refrigeration, builders hardware, architecture.
Electrical and Electronic Products: power utilities, telecommunications, business electronics, lighting and wiring devices.
Industrial Machinery and Equipment: in-plant equipment, industrial valves and fittings, non-electrical instruments, off-highway vehicles, heat exchangers.
Transportation Equipment: automobiles, trucks and buses, railroads, marine, aircraft and aerospace.
Consumer and General Products: appliances, cord sets, military and commercial ordnance, consumer electronics, fasteners and closures, coinage, utensils and cutlery, miscellaneous.
Note: CD-ROM copies of "Annual Data 2004 - Copper Supply and Consumption, 1983-2003," may be purchased for $10.00 each from the Copper Development Association Inc., 260 Madison Avenue, New York, NY 10016.
The Copper Development Association is the information, education, market and technical development arm of the copper, brass and bronze industries in the USA.
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