In this week’s analysis, we discuss the main trends of the global copper market so far this year, based on the latest ICSG statistics. All the percentage changes discuss are on a year-on-year basis, unless stated otherwise. The ICSG estimates that the refined copper market was in an “apparent” deficit of 330,000 tonnes in January-August 2019, compared with a smaller deficit of 268,000 tonnes in the same period of 2018. While the deficit in China eased to 1.9 million tonnes (from 2.1 mt last year), the surplus in the rest of the world shrunk to...
Refined market balance
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