ICSG expects global refined copper market in deficit of 52,000t in 2020
2020-10-20 15:37:57 [Print]
The global refined copper market would be in a deficit of 52,000 tonnes in 2020 and in a surplus of 69,000t in 2021, and the expected growth of global refined copper production would be 1.6% in both 2020 and 2021, said International Copper Study Group (ICSG) on Monday.
The demand of global refined copper is expected to stay unchanged this year, while the expected growth of global refined copper demand would be 1.1%.
ICSG predicts that due to COVID-19, the demand of global refined copper (excluding China) would go down by 9% in 2020.
In terms of mined copper, the expected global production would be 20.223 million tonnes this year, down by 1.5% YOY, and the production might reach 21.151 million tonnes in 2021, with a growth of 4.6%.
The demand of global refined copper is expected to stay unchanged this year, while the expected growth of global refined copper demand would be 1.1%.
ICSG predicts that due to COVID-19, the demand of global refined copper (excluding China) would go down by 9% in 2020.
In terms of mined copper, the expected global production would be 20.223 million tonnes this year, down by 1.5% YOY, and the production might reach 21.151 million tonnes in 2021, with a growth of 4.6%.
Copper Conc. 20%min Delivered China
Unit:RMB/mt Cu
China copper concentrate producers' sales volume statistics by province by month
Unit: mt
