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

Save

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

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

Copper capacity price forecast 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

Related News

14 hours ago

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

14 hours ago

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

14 hours ago

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

14 hours ago