ICSG Published Latest Edition of Copper Bulletin

SEATTLE (Scrap Monster): The International Copper Study Group (ICSG) has released its August 2020 Copper Bulletin, which provides preliminary data for the month of May this year.

In accordance with the data provided by ICSG, the world copper mine production declined marginally by nearly 2.2% in the initial five-month period of 2020. The concentrate production has declined by 2.5%, whereas the SX-EW output posted marginal decline by 0.6%.

Chile-the world’s largest copper mine producing country saw its output increase by 3.2%, aided by recovery from production constraints in early 2019. The bad weather conditions and operational issues at major mines led to 23% decline in mine output in Peru. The Indonesian output has surged higher significantly by 8%. The Chinese copper mine production remained essentially unchanged.

The world refined copper production increased marginally by around 0.5% in the first five months of 2020. The primary production soared by 2.0%, whereas the secondary production edged lower by 6%. Meantime, the world apparent refined copper usage dipped by around 2% until May this year.

The ICSG report indicates that the world refined copper market was balanced in the initial five-month period of 2020.

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