New IEA Report Highlights Strategic Approach to Boost Copper Recycling

SEATTLE (Scrap Monster): The International Energy Agency's (IEA) most recent research suggested a multifaceted strategy to increase copper recycling. According to the paper, copper is a vital metal whose recycling should speed up to satisfy the growing demand brought on by the switch to green energy. To increase the amount of recovered copper, it urged industry players to work together strategically.

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In contrast to this year's 16 million tonnes, the analysis projects that copper scrap volumes would rise to 19 million tonnes by 2030 and 27 million tonnes by 2050. It is believed that by 2035, the already announced projects may not be able to supply 70% of the anticipated demand. The IEA pointed out that even if the supply of copper scrap would expand until the end of this decade, it will fall short of the anticipated expansion in demand.

China will likely continue to be the biggest source of secondary copper, according to the Agency. Since 2015, the nation has supplied about half of the average worldwide supply. Additionally, since last year, the nation has become the biggest importer of copper scrap worldwide.

It cautioned that unless secondary smelting capacity significantly increases, the new Waste Shipment Regulation (WSR), which will go into effect in May 2027, may eventually restrict the world's supply of copper scrap.