Commodities Buzz: Global Refined Copper Balance Shows 295,000 tonne Deficit In First Nine Months Of 2022, Says ICSG

25 Nov 2022 , 11:38 AM

The worlds refined copper market showed a 10,000 tonne deficit in September, compared with 13,000 tonnes in August, according to the International Copper Study Group (ICSG). Over the first nine months of 2022, the world refined copper balance, based on Chinese apparent usage (excluding changes in bonded/unreported stocks), indicated a preliminary deficit of about 295,000 tonne. The world refined copper balance adjusted for estimated changes in Chinese bonded stocks indicated a market deficit of about 355,000 tonne. Meanwhile, preliminary data indicates that world refined copper production increased by about 2.3% in first nine months of 2022 with primary production (electrolytic and electrowinning from ores) up by 2.7% and secondary production (from scrap) up by 0.3%.Powered by Commodity Insights