Global Copper market sees deficit of 306K during first half of 2016: ICSG

Published: Sep 22, 2016 08:52

Save

The refined copper balance for the first half of 2016, indicates a production shortfall around 306,000 mt.

UNITED STATES September 21 2016 5:43 PM

NEW YORK (Scrap Register): The refined copper balance for the first half of 2016, indicates a production shortfall around 306,000 mt, and a seasonally adjusted deficit of about 227,000 mt.

Due to strong Chinese apparent refined copper demand the global refined copper market for June indicates a production shortfall of around 83,000 mt, as per the International Copper Study Group.

Factoring in estimated changes in Chinese bonded warehouse stocks, the world refined copper balance indicates a production shortfall of around 151,000 mt for the first half compared with a surplus of about 16,000 mt for H1 2015.

The main contributor to growth was China (+6%), followed by the US, where production increased by 16%. Output in Chile and Japan, the second and third leading refined copper producers, increased by around 2% and 3% respectively.

copper refined copper output

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn