ICSG: global copper production fell 1.3 per cent in the first quarter, refined copper consumption increased by 0.8 per cent

Published: Jul 2, 2019 10:20

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According to the latest monthly report from (ICSG), an international copper research organization. Global copper production fell 1.3 per cent in the first quarter of 2019 from a year earlier. Among them, the output of copper concentrate decreased by 1%. Global refined copper production also fell 1.1 per cent in the first quarter of this year. Apparent refined copper consumption rose 0.8 per cent in the first quarter, in part due to a 4 per cent increase in consumption in China, but global consumption excluding China fell by 2 per cent.

SMM7, March 2: according to the latest monthly report of the International Copper Research Organization (ICSG).

Copper ore output

Global copper production fell 1.3 per cent in the first quarter of 2019 from a year earlier. Among them, the output of copper concentrate decreased by 1%.

Copper production in Chile fell 5 per cent in the quarter as a result of a two-week strike at the Chuquicamata copper mine owned by (Codelco), the Chilean national mining company. At the same time, Indonesian copper concentrate production fell 52%.

While copper production in Chile and Indonesia has fallen more sharply, production in Peru, Australia, China and Mongolia has increased, with production in the Congo up 1.7 per cent, according to ICSG.

Refined copper production

Global refined copper production also fell 1.1 per cent in the first quarter of this year.

Chile's refined copper production fell 32 per cent as a result of smelter shutdowns and environmental upgrades. At the same time, India's refined copper production fell 45 per cent in the first quarter of this year as production at Vedanta (Vedanta) 's Tuticorin smelter remained shut down.

Refined copper demand

Apparent refined copper consumption rose 0.8 per cent in the first quarter, in part due to a 4 per cent increase in consumption in China, but global consumption excluding China fell by 2 per cent.

(WBMS), the World Bureau of Metals Statistics, also released data on June 19 that global mine copper production was 6.63 million tons between January and April 2019, down 1 per cent from the same period last year.

Between January and April 2019, global refined copper production was 7.41 million tons, down 4.9 percent from a year earlier, while production in India and Chile fell significantly, by 99000 tons and 106000 tons, respectively. "related news-WBMS:2019 January-April global copper market oversupply of 43000 tons

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