Global refined copper balance to shift to surplus in 2020 - ICSG

The global refined copper balance will switch from a deficit this year to a surplus next year on an expansion in Chinese refining capacity and a slowdown in global economic growth, the International Copper Study Group (ICSG) said on Wednesday October 23.

The world is forecast to produce 25.3 million tonnes of refined copper next year, up 4.2% from this year’s expected global output, the group said in  a statement released during a meeting in Lisbon, Portugal on 22-23 October 2019.

The projected increase is based on capacity expansion in China, expected improvements in Africa and a future return to full capacity of numerous smelters and refineries currently affected...


Julian Luk

October 23, 2019

14:25 GMT