Characteristics of the global copper raw materials and scrap trade systems and the policy impacts of China's import ban

• Published in: Ecological economics Vol. 172; p. 106626
• Main Authors: Hu, Xiaoqian, Wang, Chao, Lim, Ming K., Chen, Wei-Qiang
• Format: Journal Article
• Language: English
• Published: Elsevier B.V 01.06.2020
• Subjects: China's import ban; Copper raw materials; Copper waste and scrap; Evolution and correlation; Multiplex trade network; Policy impacts; Evolution and correlation; Copper waste and scrap; Copper raw materials; China's import ban; Policy impacts; Multiplex trade network
• ISSN: 0921-8009; 1873-6106
• DOI: 10.1016/j.ecolecon.2020.106626

Copper raw materials (CRM) and copper waste and scrap (CWS) are the two main sources of copper manufactured products. Due to the uneven geographical distribution of copper production and consumption, international CRM and CWS trade developed. However, no study has explored the complicated interdependencies between CRM trade and CWS trade or investigated the characteristics of this multiplex trade system. This study uses trade records from 1988 to 2017 to construct multiplex trade networks: a global CRM trade network and a global CWS trade network. The evolution of copper trade from 1988 to 2017 is reviewed, and the intricate relationships in the multiplex trade network are identified. It is found that CWS trade has a highly positive correlation with CRM trade, but there are obvious differences between CWS trade and CRM trade in the multilateral trade structure. Multilateral trade structures driven by core exporting countries and core importing countries are prominent in CRM trade and CWS trade, respectively. In addition, the impacts of China's restrictive policies on the multiplex trade system are analyzed. The results provide policy implications for countries regarding copper resource security strategies and safeguarding the multiplex trading system. •The spatial-temporal evolution of the MCTN is analyzed.•A positive association between the CRM trade and CWS trade is identified.•Two patterns of relationships between multilateral trade structures in the CRM trade and CWS trade are revealed.•A multiplex shock model is proposed to simulate the impacts of China's CWS import ban.•Policy implications are provided for countries to mitigate the trade risks and develop trade.