Global copper market flips to deficit by June after Q1 surplus: ICSG

摘要

The global refined copper balance through June plunged to an apparent deficit of 235,000 mt after reaching a 130,000 mt surplus at the end of the first quarter, according to data released Sept. 21 by the International Copper Study Group. Estimated data from the ICSG indicated that monthly world refined copper usage rose to 2.25 million mt in June from 2.09 million mt in May, but production remained mostly unchanged at 2.06 million mt. Global apparent refined copper usage in the first half of 2020 stayed flat year over year at 12.1 million mt as markets slowly recovered from coronavirus pandemic-related lockdowns that negatively impacted the world economy and copper end-use sectors, according to the trade association.