Newsvoir
India has emerged with one of the highest recyclability rates globally for copper due to high collection efficiency and minimal loss during remelting
As of today, 15 million tons of copper is actively in use across various applications in India
In a strategic collaboration with the Fraunhofer Institute, Germany, International Copper Association India (ICA India), today announced the launch of “India’s Copper Stock and Flow Model”. This pioneering initiative aims to unravel the complexities of Indias copper landscape, covering mining, production, end-of-life scrap generation, and recycling.
Copper scrap before recycling
Copper, recognized as a Critical Mineral, is at the forefront of Indias strategic focus to develop sustainable exploration, processing, recycling and thereby, to attain an “Aatmanirbhar” growth. The unveiled model addresses a critical gap in comprehending Indias recycling landscape, including active copper stock, end-of-life scrap generation, and recycling and collection rates. By addressing these questions, the model empowers policymakers, investors, and stakeholders to make informed decisions, formulate effective policies, and contribute to a more sustainable and efficient copper cycle.
On the launch of the Stock and Flow Model, Mr. Mayur Karmarkar, Managing Director, ICA Indiasaid, “The stock and flow model not only enhances the accuracy of copper recycling data but also carries profound implications for policymakers. This will help the policymakers gain invaluable insights and develop data driven copper resource strategy. The models scientific foundation enables a deeper comprehension of the copper market, facilitating the crafting of policies that are not only effective but also tailored to the nuances of the supply chain.”
ICA India’s comprehensive Copper Stock and Flow Model for the financial year 2021 has been developed using a meticulous top-down & bottom-up approach. Rooted in historical data on copper consumption dating back to 1910, this innovative model integrates information on semi-finished goods production and end-use sectors, offering a panoramic view of copper dynamics. The models revelations for India are striking as it highlights that India boasts an active copper stock of 15 million tons across applications like buildings, infrastructure, industry, consumer appliances, machinery, and computers. In FY21 alone, 1.1 million tons were added to this dynamic stock.
The models capability to estimate end-of-life (EOL) scrap generation is of particular significance. EOL estimates are based on historical data and industry insights indicating the pace at which each products reach retirement and transform into potential scrap. Using this methodology, the India Copper Stock and Flow Model discerns that a noteworthy 380,000 tons of copper, sourced from discarded or end-of-life products, became available for recycling in FY21.
The study also revealed that that secondary copper, derived from the recycling of scrap both domestic and imported including finished products, currently fulfils over 50 per cent of Indias copper needs. This is a critical information for policymakers and the industry as estimating the value of secondary copper has been a challenge. This model also underscores the importance of data collection and recycling in the nations copper supply chain. Notably, India boasts one of the highest recycling rates (proportion of EOL copper scrap that gets recycled and reintroduced into the system) globally, ranging from an impressive 95.1 per cent to 99.4 per cent. This can be attributed to the high collection efficiency of discarded copper, the recognition of coppers high value across the entire value chain, and minimal copper loss during the remelting process.
Traditionally, copper recycling data has been a realm of uncertainty, often relying on guesstimates that fall short of providing a comprehensive understanding of market dynamics. On the other hand, the copper stock and flow model, is a scientific estimate that uses a rigorous and data-driven methodology, in turn driving away ambiguity surrounding data pertaining to copper’s life cycle.
About ICA India (International Copper Association)
The International Copper Association India (ICA India) is a member of Copper Alliance and the Indian arm of the International Copper Association Limited (ICA), the leading not for profit organization for the promotion of copper worldwide set up in 1959. ICA has been operating since 1998 in India and has built an active association with the growing number of copper users through its programs. ICA India Programs are committed to improving the quality of life through better Electrical Safety, Energy Efficiency, Clean Energy and Sustainability. ICA India’s efforts have been pivotal to advancing better standards, across various products, applications, and industries, by leveraging upon the superior technical performance of copper.
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