Demand for copper is growing-First Copper invests in India and prepares for a green boom
First Copper Technology Co., Ltd., a Taiwanese copper producer, announced during its annual meeting on June 26 that it was expanding its presence in the Indian market in order to diversify exports outside of Southeast Asia, Yieh reported.
The company develops materials with high strength, resistance to softening and low internal stress for the needs of the high-tech semiconductor industry. The company is also increasing the production of copper materials with high conductivity and heat transfer for server cooling.
First Copper believes that decarbonization measures such as the development of electric vehicles and renewable energy sources are key drivers of copper demand growth.
The company predicts that global copper demand will grow from 15 million tons in 2000 to 30 million tons in 2025, 40 million tons in 2030 and 50 million tons in 2035. Japan's Ministry of Economy, Trade and Industry also expects copper demand to double by 2035.
Today, 66.5% of First Copper's sales come from the domestic market, and 33.5% from the international market.