  Economic,
technological, and societal factors influence the supply and demand
for copper. In the last 100 years, industrial demand for refined copper
has increased from 494,000 metric tonnes to over 19 million metric
tonnes. As world population continues to expand, demand for copper
tends to increase, while remaining sensitive to variances in economic
cycles, changes in technology, and competition between materials for
use in applications.
As society's needs for copper increases, new mines and plants are
developed and existing operations are expanded. In times of market
surplus, existing operations can be scaled back or closed down, and
planned expansions can be put on hold.
More developed regions of the world use copper as an important component
of their infrastructures. But as less developed regions expand their
infrastructures, copper will help to form the building blocks required
to increase living standards. |
