Consumers have been buying copper for centuries, and now it’s on the agenda of a new generation.
Consumer groups, consumer and business leaders, academics and others are calling on governments and regulators to focus on the new threat of copper consumption.
The World Economic Forum, which promotes the global economy, said in a report published on Tuesday that copper consumption has become an urgent concern for governments and the international community, with the cost of copper to be one of the top two barriers to economic growth.
It is also a concern for the health of consumers, and it will only get worse, the report said.
The IEA, a trade body representing over 1,300 organisations, said that copper was a major contributor to the global copper industry, with China’s total consumption estimated to be around 50 million tonnes, with Brazil and Russia accounting for another 40 million tonnes.
A major problem is that the price of copper is not rising, and consumers in developing countries, such as India, have been forced to pay more for copper because of rising costs.