WBMS: Global Copper Market Shortfall of 10,000 Ton in January-February
On April 18th, the World Bureau of Metal Statistics (WBMS) released its data on its website on Wednesday that shows that from January to December 2018, the global copper market suffered a shortage of 10,000 tons, and in 2017, the shortage was 263,000 tons.
As of the end of January and the end of February, the global reportable copper inventories increased, which was nearly 22.1 tons more than at the end of December 2017.
In January and February, the global mine production of copper was 3.3 million tons, an increase of 5.3% over the same period of last year.
In January and February, global refined copper production was 3.9 million tons, an increase of 5.2% over the same period of the previous year, of which China increased significantly by 11.0 million tons and Chilean production increased by 19,000 tons.
In January and February of this year, the global copper consumption star was 3.9 million tons, and the consumption in the same period last year was 3.6 million tons.
In January and February, China’s apparent copper consumption increased by 355,000 tons from the same period of last year to 20,355,000 tons, accounting for more than 52% of the total global consumption.
During the same period, the EU’s 28-country copper production increased slightly by 0.1%, and the demand was 542,000 tons, an increase of 0.8% over the same period of last year.
In February of this year, the global refined copper production was 1,929,800 tons and the consumption was 1,943,700 tons.