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ICSG releases December 2015 Copper Bulletin

iconJan 5, 2016 09:56
Source:SMM
The International Copper Study Group (ICSG) has released preliminary data for the month of September last year in its December 2015 Copper Bulletin.

By Paul Ploumis (ScrapMonster Author)

January 04, 2016 07:32:44 AM

SPOKANE (Scrap Monster): The International Copper Study Group (ICSG) has released preliminary data for the month of September last year in its December 2015 Copper Bulletin. According to preliminary ICSG data, copper production and usage data points to a production deficit of nearly 25,000 metric tonnes.

The refined copper market balance for the month of September ‘15 showed an apparent production deficit of nearly 25,000 metric tonnes. The production surplus for the month, after making seasonal adjustments for global refined copper production and usage, stood at 30,000 metric tonnes. The refined copper balance for the initial nine months of the year ended in production surplus of around 35,000 metric tonnes as compared with a deficit of 450,000 tonnes during the corresponding period in 2014.

World refined production increased by nearly 1.5% (nearly 230,000 t) during the first nine months of 2015. Primary production was up 1%, whereas the secondary production increased by 4.5%. The refined copper production during the month witnessed significant growth of 3.5% in China. The production by the DRC witnessed an increase of 7%. On the other hand, the refined copper output by Chile and Japan dropped by 2.5% and 2% respectively. The US refined copper production dropped by 5%. The African and Asian region recorded 7% and 3.5% rise in refined copper production respectively.

The world copper mine production has increased by around 3% (nearly 450,000 t) during the first nine months of 2015. Concentrate production was up 4% during the period. The mine output from Peru and Indonesia recovered during this period. The mine production by Peru-the world’s third largest copper mine producer, increased by 16%. The production remained essentially flat in the US and China. The production increased marginally by 0.7% in Chile.

Meantime, global usage of the metal is estimated to have declined by around 1.5% (nearly 250,000 t) during January to September in 2015. The Chinese apparent demand increased marginally by nearly 0.5%. The usage by world countries excluding China has dropped by 3.5%. The Russian apparent usage dropped sharply by 47% whereas the EU demand declined 4%. Japanese apparent demand too witnessed sharp decline of 8%.


ICSG
Copper Bulletin dec 2015

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