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Global refined copper market saw wider deficit in November - ICSG

Global refined copper market saw wider deficit in November – ICSG

VANCOUVER (miningweekly.com) – The International Copper Study Group reports a global copper market deficit of about 90,000 t in November, up from the 64,000 t deficit in October.

The November deficit was mainly attributable to a 3.5% increase in apparent Chinese demand in the first 11 months of 2016, the Lisbon, Portugal-based study group said in its latest market report.

Preliminary data available up to November suggests global mine output increased by 5%, or 900,000 t, in the 11 months, with concentrate output increasing by 7% and solvent extraction and electrowinning (SX-EW) declining 2%. The increase in global mine production resulted mainly from a 41%, or 630,000 t, rise in Peruvian concentrate output, which benefited from new and expanded capacity brought on stream in the last two years.

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