Copper Market to Face Shortage? WBMS Has Different Story to Tell

Published: Sep 1, 2017 10:29

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Market has been worried since beginning of this year that copper ore output will fall sharply this year due to strike and output cuts or halts, hence potentially leading to copper supply shortfall.

SHANGHAI, Sept. 1 (SMM) – Market has been worried since the beginning of this year that copper ore output will fall sharply this year due to strike and output cuts or halts, hence potentially leading to copper supply shortfall.

LME Copper Stocks Record Biggest Fall in Over Decade

However, data from World Bureau of Metal Statistics (WBMS) showed a different picture.

Growing Copper Supply in Guangdong Reverse Premiums into Discounts, SMM Reports

According to WBMS, global copper ore output dropped just 0.1% year-on-year to 10.1 million tonnes in H1 2017. Although output in Chile fell 9%, this was partly offset by higher output in other countries.
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