ICSG: Global Refined Copper Market Saw Oversupply of 5,000 mt in May 2022

SHANGHAI, Jul 26 (SMM) - The International Copper Study Group (ICSG) said in its latest monthly report that the global refined copper market was oversupplied by 5,000 mt in May 2022, and the figure in April 2022 was revised to a deficit of 23,000 mt. 
ICSG had previously reported that the global refined copper market was oversupplied by 3,000 mt in April 2022.
In the first five months of this year, the global refined copper market was oversupplied by 43,000 mt, compared with a shortage of 23,000 mt in the same period in 2021.
In May, global refined copper production was 2.189 million mt and consumption was 2.184 million mt.