The International Copper Study Group (ICSG) has estimated that the global balance between output and consumption of refined copper will widen to a deficit of 190,000 tonnes in 2019.
This forecast figure was up from an earlier forecast deficit of 65,000 tonnes, published by ICSG in October 2018, as a result of global trade uncertainty, economic weakness and static levels of mine production.The group also expected the deficit to widen further in 2020, expanding to 250,000 tonnes. This will be primarily due to growth in refined copper production not keeping pace with growth in usage.The growth rate of world mine...