ICSG: Global copper market experienced a supply deficit of 38,000 mt in April, and a supply surplus of 233,000 mt in the first four months.

On June 24 (Tuesday), the International Copper Study Group (ICSG) stated in its latest monthly report that the global copper cathode market experienced a supply deficit of 38,000 mt in April, following a surplus of 12,000 mt in March.

ICSG reported that in the first four months of this year, the market saw a supply surplus of 233,000 mt, compared to a surplus of 236,000 mt in the same period last year.

Global copper cathode production in April was 2.37 million mt, with consumption at 2.42 million mt.

ICSG stated that after adjusting for inventory changes in China's bonded warehouses, there was a supply deficit of 43,000 mt in April, compared to a surplus of 44,000 mt in March.