Page 114, global consumption of refined copper is forecasted to be 26mt for 2021.
Page 115, mine production is forecasted to be 22mt for 2021.
However, I believe your correct, that recycling isn't included in this figure. On Page 119, the global refined quantity is 25.28mt, which would likely include recycled copper.
My research is just a brief write up of a potential increase in demand from India. Nothing more than a quick highlight of the issue and a few very rough figures. Just something to consider and as always, DYOR.
On another note, on page 117, they directly mention CYM and Nifty coming into production by the end of 2022. So I doubt there'll be any difficulties in finalising government approval, if the ABS is already including Nifty's production into the 2022-23 forecast.
CYM Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
