Copper, Silver, Lead and Zinc Smelting and Refining in Australia - Market Research Report (2014-2029)

The Copper, Silver, Lead and Zinc Smelting and Refining industry has faced volatile conditions over recent years due to volatile pricing and refineries generating a high proportion of industry revenue by providing refining and smelting services to mining companies as a third-party service. As mining companies can export ore concentrate overseas to be refined, industry firms that service mining companies need to be price and service competitive. Industry volumes and revenue are greatly influenced by changes in demand for smelting and refining services and the production output of mining companies that also operate in the industry. Overall, industry revenue is expected to climb at an annualised 1.1% over the five years through 2023-24, to an estimated $4.2 billion, mainly due to higher copper prices despite lower refined copper output. Industry revenue is anticipated to fall by 6.2% in 2023-24 as downstream demand weakens and copper production declines greatly.Industry exports are estimated to total $7.8 billion in 2023-24, substantially above industry revenue. Industry refineries often process metal for a fee without taking ownership of it. Exports of this processed metal are counted in industry exports. Industry exports tend to exceed industry revenue.The industry competes with imported refined metals and has progressively lost its share over the past decade. Sophisticated refineries opened in the Asia-Pacific region have outperformed Australian refiners because of greater scale and a more favourable regulatory environment. Revenue is forecast to decrease at an annualised 0.8% over the five years through 2028-29, to an estimated $4.0 billion. Refined copper production volumes are on track to push down, thanks to the anticipated closure of Glencore's copper smelter and refinery in Queensland in 2026. Output and demand for other industry goods, particularly zinc and lead, are set to remain stable, with prices declining. Industry exports are poised to sink owing to lower industry production.

近年来，铜、银、铅和锌的冶炼与精炼行业面临着波动剧烈的经营环境，这主要归因于价格的不稳定以及精炼厂通过向采矿公司提供第三方精炼和冶炼服务而获得行业收入的比例较高。由于采矿公司能够将矿石浓缩物出口至海外进行精炼，服务于采矿公司的行业企业必须具备价格和服务上的竞争力。行业的产量和收入深受冶炼和精炼服务需求变化以及同行业内采矿公司的生产输出变化的影响。总体来看，预计行业收入将在2023-24年间的五年内以年化1.1%的速度增长，达到约42亿美元，主要得益于铜价的上涨，尽管精炼铜的产量有所下降。预计2023-24年行业收入将下降6.2%，随着下游需求的减弱和铜生产的显著减少。预计2023-24年行业出口总额将达到78亿美元，远超行业收入。行业精炼厂通常以收费的方式处理金属，而不持有金属的所有权。这种处理后的金属出口被计入行业出口。行业出口往往超过行业收入。该行业与进口的精炼金属竞争，在过去十年中逐渐失去了市场份额。亚太地区开设的先进精炼厂由于规模更大和监管环境更优，其表现优于澳大利亚的精炼厂。预计在2028-29年间的五年内，收入将以年化0.8%的速度下降，至约40亿美元。由于预计Glencore在昆士兰州的铜冶炼厂和精炼厂将于2026年关闭，精炼铜的生产量预计将下降。其他行业产品，尤其是锌和铅的生产和需求预计将保持稳定，但价格将下降。由于行业生产减少，预计行业出口将下降。