In 2021, China's copper industry operated overall steadily, with prices fluctuating at high levels and industry profits significantly improving. Firstly, production remained stable. According to data from the National Bureau of Statistics, in 2021, refined copper production reached 10.49 million tons, marking a year-on-year increase of 7.4%, with a two-year average growth rate of 3.5%; copper material production amounted to 21.24 million tons, a year-on-year decrease of 0.9%. Secondly, inventories saw a significant decline. According to statistics from industry analysis institutions, social copper inventories stood at 74,000 tons in late December, which is at a relatively low level in recent years and a 50% decrease compared to the same period last year.
