Global copper surplus falls 12.8% to 110 000 t
VANCOUVER (miningweekly.com) – The global refined copper balance for the first two months of this year indicates a surplus of about 110 000 t, a 12.8% drop year-on-year, the International Copper Study Group has found.
The Lisbon, Portugal-based think tank said apparent refined demand increased 3.9% year-on-year to 3.77-million tonnes, outpacing production growth in the same period of 3.3% to 3.88-million tonnes of red metal.
World mine production is estimated to have increased by around 4.8% in the first two months of this year to 3.25-million tonnes, with concentrate output rising 4.5% and solvent extraction and electrowinning by 6%.
Mine capacity utilisation for February was 82.6%, up slightly from January’s 81.2%, but down from December’s high of 88%. In contrast, global refinery capacity utilisation was 87.8% in February, up from January’s 86%, but also down from December’s 90.8% utilisation rate.
As of the end of April, copper stocks held at the major metal exchanges totalled 800.02 t, an increase of 257.48 t, or 47% from stocks held at the end of December. The average London Metals Exchange cash price for April was $6 838.25/t, up 0.6% from the March average of $6 795.76/t.
Comments
Projects
Latest Multimedia
Latest News
Showroom
REELIN is Currently the largest supplier of Bearings to Transnet. We have contracts to supply bearings, draft gears slackadjusters and other...
VISIT SHOWROOM
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
