Big gain in secondary copper production from scrap

Global – An apparent production surplus of 8000 tonnes was registered by the global refined copper market across the opening seven months of 2015 – a sea-change from the 563 000 tonnes of deficit in the corresponding period of 2014.

World refined production climbed 2.5% in this year’s January-July period to 13.089 million tonnes: primary production advanced by 1.5% to 10.728 million tonnes whereas secondary production from scrap leapt 7% from 2.204 million tonnes in January-July 2014 to 2.361 million tonnes this time around, according to latest data from the International Copper Study Group (ICSG).

Meanwhile, the world’s apparent usage of refined copper is estimated to have declined by around 2% from 13.33 million tonnes in January-July 2014 to 13.081 million tonnes for the same months of this year – or by nearer 4% when excluding China from the equation. Demand declined by 8% in Japan, by 6% in the EU and by 2% in the Americas, observes the ICSG.