WBMS: Global copper market in deficit of 203 kt in first nine months
2019-11-21 15:55:21 [Print]
The global copper market recorded a deficit of 203 kt in January to September 2019 which follows a deficit of 284 kt in the whole of 2018, according to the data released by the World Bureau of Metal Statistics (WBMS) on Wednesday.
Reported stocks fell during September to close 66 kt higher than at the end of December 2018. This increase includes net deliveries of 127 kt into the LME warehouses and net deliveries of 1.2 kt out of Shanghai warehouses
Comex stocks declined by 64 kt during the first nine months. No allowance is made in the consumption calculation for unreported stock changes, particularly in the Chinese government stockpile.
World mine production in January to September 2019 was 15.23 million tonnes which was 1.3% higher than in the same period of 2018.
Global refined production for January to September 2019 was 17.36 million tonnes, down by 1.3% compared with the previous year, with significant decreases recorded in India (down 99 kt) and in Chile (down 206 kt).
Global consumption for January to September 2019 was 17.56 million tonnes compared with 17.86 million tonnes for the same months of 2018.
Chinese apparent demand for January-September period was 9,120 kt which was 1.2% lower than the first nine months of 2018. EU28 production fell by 4.6% YOY and demand was 2,329 kt, down by 7.8% YOY.
In September 2019, global refined copper production was 2,006.6 kt and consumption was 2,035.5 kt.
Reported stocks fell during September to close 66 kt higher than at the end of December 2018. This increase includes net deliveries of 127 kt into the LME warehouses and net deliveries of 1.2 kt out of Shanghai warehouses
Comex stocks declined by 64 kt during the first nine months. No allowance is made in the consumption calculation for unreported stock changes, particularly in the Chinese government stockpile.
World mine production in January to September 2019 was 15.23 million tonnes which was 1.3% higher than in the same period of 2018.
Global refined production for January to September 2019 was 17.36 million tonnes, down by 1.3% compared with the previous year, with significant decreases recorded in India (down 99 kt) and in Chile (down 206 kt).
Global consumption for January to September 2019 was 17.56 million tonnes compared with 17.86 million tonnes for the same months of 2018.
Chinese apparent demand for January-September period was 9,120 kt which was 1.2% lower than the first nine months of 2018. EU28 production fell by 4.6% YOY and demand was 2,329 kt, down by 7.8% YOY.
In September 2019, global refined copper production was 2,006.6 kt and consumption was 2,035.5 kt.
Copper Conc. 20%min Delivered China
Unit:RMB/mt Cu
China refined copper producers' inventory statistics by province by month
Unit: mt
