Copper supplies from Russia to the EU decreased by 79% in 2023 – Kommersant
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In 2023, supplies of Russian copper to the countries of the European Union (EU) decreased by 79% compared to 2022, to 62,372 tons, follows from a review by the analytical agency S&P, which we reviewed “Vedomosti”. In 2021–2022, the volume of copper imports from Russia to the EU averaged 296 thousand tons per year.
According to analysts, Russia was able to redirect almost half of the lost copper exports to Europe – 111,580 tons – to China and Turkey. Last year, China increased imports of Russian copper by 14% compared to 2022, to 370,815 tons, Turkey – by 61%, to 171,260 tons. Total imports of copper into the EU countries in 2023, against the background of the economic downturn in Europe, decreased by 20%, to 673,100 tons, S&P calculated.
In April 2023, the German company Aurubis, which is the largest producer of copper products in Europe, refused to renew contracts with Russian suppliers of raw materials. At the end of last year, Russia’s share in copper purchases on foreign markets decreased to 9%. In 2021-2022 the figure was 36%.
Read more about Russia’s non-resource exports in material “Ъ”.
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