ICSG Copper Bulletin Highlights Copper Demand-Supply Data

SEATTLE (Scrap Monster): The International Copper Study Group (ICSG) has released its April 2018 Copper Bulletin, which outlines the preliminary copper demand and supply data for the month of January this year.

In accordance with ICSG data, world copper mine production increased by around 3.5% in the opening month of 2018. The concentrate production rose by 3.5%, whereas the solvent extraction-electrowinning (SX-EW) production was up by 3%. The jump in output was mainly fueled by the output growth in Chile- the world’s largest producer of mined copper. The country’s concentrate output has surged higher significantly by 9% over the previous year. Also, SX-EW production recovered in the DRC and Zambia. Indonesia and China too recorded strong production data during the month.

The copper mine output increased by around 15% in both Africa and Asian regions. The Europe reported 3% jump in mine output. Meantime, the output remained essentially unchanged in the Americas and Oceania.

The global refined production has increased by 5.2% in January 2018. The primary production rose by 5.3%, whereas the production from scrap was up by 5%. The expansion in capacity in China led to 8% jump in country’s refined output. Indonesia and Japan too reported sharp recovery in production during the month. The production growth was partially offset by declines in Chile and the U.S. The U.S. output has declined substantially by 8%.

Among various regions, Africa witnessed 14% jump in refined output, followed by Asia with 8.5% and Europe with 2%. Conversely, the Americas output dropped by 3.5% when compared with January 2017.

The world apparent usage is estimated to have increased by 5.5% in Jan ’18. Chinese apparent usage expanded by 9%. India, Japan and the EU too reported jump in apparent usage, whereas the U.S. and South Korea reported declines.

The world refined copper balance indicated a modest surplus of 33,000 tonnes for January 2018.