UNITED KINGDOM July 22 2016 5:08 PM

LONDON (Scrap Register): Refined Copper production from scrap increased 5.5% year on year to 1.307 million tons in the opening four months of 2016, as per latest figures from the International Copper Study Group (ICSG).

Total output climbed 4.5% from 7.357 million tons in 2015 to 7.688 million tons in January-April 2016. The refined usage is estimated to have increased 6% to 7.806 million tons from 7.344 million tons.

The small refined copper market surplus of 13000 tonnes recorded for January-April last year was transformed into a shortfall of 119 000 tonnes for this year's corresponding period, according to the ICSG. Utilization of world refinery capacity increased to 84% from 82% in the first four months compared to the same period of 2015.