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Scrap availability continues to boost secondary refined copper production

Global – Owing to increased availability of scrap, secondary production of refined copper climbed more than 9% year on year to 3.848 million tonnes in January-November 2017. However, a drop-off in primary production and higher usage meant the refined copper market deficit widened to 196 000 tonnes in the first 11 months of 2017 from 154 000 tonnes in the previous year’€™s corresponding period.

According to latest figures from the International Copper Study Group (ICSG), the 1.5% decrease in primary production to 17.557 million tonnes contributed to a refined copper output total of 21.404 million tonnes for January-November last year, as against 21.321 million tonnes in the same period of 2016.

Production increased by 3.5% in both Asia and Europe but fell 8% in the Americas and 15% in Oceania while remaining unchanged in Africa. World apparent usage of refined copper edged 0.6% higher from 21.475 million tonnes in the first 11 months of 2016 to 21.6 million tonnes in the same period last year.

Preliminary data indicate that China’s apparent usage – representing almost 50% of the world total – increased by 0.9% whereas the upturn recorded by the rest of the world was 0.3%, the ICSG points out.

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