Skip to main content

Copper market swings into surplus in July

Global – After several months of deficit, the world refined copper market registered an apparent production surplus of around 133 000 tonnes in July, mainly as a result of weaker apparent demand in China.

But across the first seven months of 2016 as a whole, the market was still showing a production deficit of around 264 000 tonnes compared to a shortfall of almost 70 000 tonnes for January-July 2015.

Year on year, world production of refined copper is estimated to have increased by approximately 2.8% to 13.477 million tonnes in the first seven months of 2016: primary production climbed 2.5% to 11.155 million tonnes while secondary production from scrap jumped 5% from 2.211 million tonnes to 2.322 million tonnes, International Copper Study Group (ICSG) statistics reveal.

Global usage of refined copper is calculated to have increased by around 4% to 13.741 million tonnes in this year’s opening seven months.

China’s apparent demand surged 9% based on a 14% increase in net imports of refined copper although the July import total of 176 000 tonnes was the lowest since April 2013, according to the ICSG.

Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.

You might find this interesting too

Magnet recycling plant is UK first
Indian and German companies’ tie-up for global strategy

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe now and get a full year for just €169 (normal rate is €225) Subscribe