ICSG Announces Publication of July 2020 Copper Bulletin

SEATTLE (Scrap Monster): The International Copper Study Group (ICSG) has released its July 2020 Copper Bulletin, which provides preliminary data for the month of April this year.

In accordance with the above data, the world copper mine production remained essentially unchanged during the initial four-month period of 2020. The concentrate production has declined marginally by 0.5%, whereas the SX-EW output edged higher by almost 1%.

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Chile-the world’s largest copper mine producing country saw its output increase by 3.8%, aided by recovery from production constraints in early 2019. The adverse weather conditions and operational issues at major mines led to 17% decline in mine output in Peru. The official data suggests that Indonesian output surged higher significantly by 26%. The Chinese copper mine production registered marginal decline by 1%.

The world refined copper production remained more or less unchanged in the first four months of 2020. The primary production soared by 2.0%, whereas the secondary production edged lower by 8%. The Chilean refined output increased by 36%. The production in the DRC was up by 2%, but production in Zambia declined by almost 13% due to operational issues and temporary shutdowns.

Meantime, the world apparent refined copper usage dipped by around 2.5% until April this year.

The ICSG report indicates that the world refined copper market ended in a surplus of around 60,000 tonnes during the first four months of 2020.