ICSG Cuts Outlook for Global Copper Ore Capacity at 2016 China International Copper Conference

Published: Oct 19, 2016 14:50

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The International Copper Study Group (ICSG) cut its outlook for global copper ore capacity at 2016 China International Copper Conference from Oct. 18-20, Shanghai Metals Market reports.

SHANGHAI, Oct. 19 (SMM) - The International Copper Study Group (ICSG) cut its outlook for global copper ore capacity at 2016 China International Copper Conference from Oct. 18-20, Shanghai Metals Market reports.

“Global copper smelting and refining capacity will grow by 8 and 6 per cent at a cumulative rate after the cut, respectively, during the period of 2016-2019,” ICSG predicts at the conference held in Shandong.

The cut is mainly because most of new projects will be delayed to come online after 2019, the group explained.

Mr Shairaz Ahmed, ICSG Manager of Statistical, said at the conference that global minerals capacity will grow by 13 per cent to 22.6 million tonnes during the period, driven mainly by Africa and China.

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