The global refined copper market logged an 8,000-tonne deficit in January 2019, extending the 390,000-tonne deficit seen for the full-year 2018 and lending some support to worldwide premiums and prices, according to data released by the International Copper Study Group.
Preliminary data showed that world mine production was largely unchanged year on year in January, despite declines in Chilean (down 4%) and Indonesian (down 45%) production, according to the ICSG. At the same time, world refined production (up 3%) kept pace with apparent refined usage (up 3.3%).Fastmarkets AMM assessed the US copper cathode premium at 7-7.75 cents per lb delivered to the Midwest on April 23. That premium stood at 7-7.5 cents per lb on January 31, unchanged from one month earlier.The premium for grade A copper cathode, basis cif...