ICSG Reports Slight Narrowing of Global Refined Copper Deficit in December 2024

Published: Feb 24, 2025 10:05

Save

According to SMM, the International Copper Study Group (ICSG) stated in its latest monthly report that the global refined copper market experienced a supply deficit of 22,000 mt in December 2024, compared to a deficit of 24,000 mt in November. ICSG indicated that the market had a supply surplus of 301,000 mt in 2024, whereas there was a deficit of 52,000 mt in the previous year. In December, global refined copper production stood at 2.37 million mt, while consumption reached 2.39 million mt. ICSG noted that, after adjusting for inventory changes in China's bonded warehouses, the deficit in December was 51,000 mt, compared to 127,000 mt in November.

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

12 hours ago

Orient Cable and Subsidiary Win Bids Worth Approximately RMB 5.231 Billion Across Various Projects

[Orient Cable: Recent Bid-Winning Amount Approximately RMB 5.231 Billion] Orient Cable announced that recently, the company and its wholly-owned subsidiary, Dongfang Offshore Engineering Institute, have successively received relevant bid-winning notices and bid-winning announcements, confirming the company and Dongfang Offshore Engineering Institute as the bidders for the relevant projects. Among them, the bid-winning amount for power engineering and equipment cables is approximately RMB 3.356 billion; the bid-winning amount for new energy power (submarine cables and high-voltage cables) is approximately RMB 1.113 billion; and the bid-winning amount for marine equipment and engineering operation and maintenance projects is approximately RMB 762 million. The combined bid-winning amount of the above projects is approximately RMB 5.231 billion.

12 hours ago

15 hours ago

Physical premiums dropped significantly, while forward buying interest emerged [SMM Yangshan spot copper]

15 hours ago

Data: SHFE, DCE market movement (Jun 10)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 10 Jun , 2026

15 hours ago