Global – Refined copper production from scrap surged 6% worldwide from 3.23 million tonnes in the opening 10 months of 2015 to 3.419 million tonnes in last year’s corresponding period, according to latest stats from the International Copper Study Group (ICSG).
With primary production increasing by 2.5% to 15.996 million tonnes, refined copper supply climbed around 3% or 537 000 tonnes year on year to 19.415 million tonnes. On a regional basis, refined output is estimated to have increased by 3% in the Americas and Oceania, as well as by 6% in Asia, whereas declines of 12% and 3% were recorded for, respectively, Africa and Europe.
Globally, apparent refined copper usage is estimated by the ICSG to have increased by around 3% or 515 000 tonnes in the first 10 months of 2016 to 19.479 million tonnes. This implies a market deficit of 64 000 tonnes, although a surplus of 48 000 tonnes was registered when viewing October in isolation. From a regional perspective, refined copper usage is estimated to have increased by 4% in Asia and 1.5% in Europe while declining 3.5% in the Americas.