World Refined Copper Balance Ended 2019 in Deficit

SEATTLE (Scrap Monster): The International Copper Study Group (ICSG) announced publication of March 2020 Copper Bulletin, which points to a deficit copper market in year 2019.

The world copper mine production witnessed marginal decline by nearly 0.7% in 2019. The concentrate output was down by around 0.6%, whereas the SX-EW production declined by around 1%. Indonesian output dipped by around 45%. The output by Chile too was down by 1% from the prior year. The aggregated production in the DRC and Zambia recorded 3% year-on-year decline. On the contrary, several copper mine producing countries including Australia, Canada, China, Mexico, Peru and the U.S. reported increased production levels in 2019.

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The world refined copper production declined by 0.6% in 2019, said ICSG Copper Bulletin. The primary production fell by 1%, whereas the secondary production increased by 1.5%. Meantime, the world apparent refined copper usage dropped by around 0.8% in the previous year.

In short, the world refined copper balance for 2019 indicated a deficit of approximately 340,000 tonnes.