The International Copper Market Research Group (ICSG) has announced the publication of its December 2018 newsletter. The report provides preliminary data on global supply and demand for rolled copper throughout 2018. The most popular types of copper products are: copper pipe, copper strip , copper wire, copper sheet, copper bar and circle.
Mining and production of copper
According to ICSG, global production of copper mines in the first nine months of this year rose slightly by 2.8%. Concentrate production increased by 2.7%. According to ICSG, the 23% and 7% jump in ore production in Indonesia and Chile was mainly due to a significant reduction in production during the comparative period last year. Overall growth was partially offset by declining production in Canada and the United States, which declined 11% and 4.5%, respectively, from the prior year.
World production of refined copper increased slightly by 1% in January-September 1818. While primary production declined marginally by 1.3%, secondary copper production posted a huge increase of 12%. Continued expansion of manufacturing capacity in China has been a major driver of production growth. Significantly higher production was reported by Chile, Indonesia and Japan. The growth in production in these countries was partially offset by a 32% decrease in production in India and a decrease in production in other countries of the world, including Australia, the Philippines, Poland and the United States.
Copper shortage
Worldwide visible use of refined copper increased by 3%. Overall, the refined copper market reported a deficit of around 595,000 tonnes in the first nine months of 2018.
