Copper deficit remains through August, ICSG says

A persistent copper deficit held throughout the June-August period and should support futures prices on international exchanges as the calendar moves into 2018.

The global refined copper market recorded a 50,000-tonne deficit through August, primarily due to weak supply growth from major producer nations like Chile, the International Copper Study Group (ICSG) reported on Monday November 20.
Global refined production was flat year over year, with primary production falling 1.5% but scrap output climbing 10%.

While China, India and some European Union countries saw minor increases, Chile's 10% decline led to the overall decline. As for demand, total refined usage was also unchanged; China - the world's largest...


Dalton Barker

November 21, 2017

01:30 GMT