Refined Copper Balance Posted 138,000 Tonnes Deficit
The International Copper Study Group (ICSG) has published October 2021 Copper Bulletin, which provides preliminary copper supply and demand data for the month of July 2021. In accordance with the data provided by ICSG, the world copper mine production increased marginally by almost 3.6% in the initial seven-month period of the current year. The concentrate production surged higher by around 5.5%, whereas the SX-EW output declined by almost 4.3%. Chile-the world’s largest copper mine producing country saw its output dip marginally by 1.0%. The output in Peru has increased by 11% over the year. The Indonesian output recorded 61% jump over the previous year, primarily on account of continued ramp up of underground production at the Grasberg mine. Significant production increases were also witnessed in the DRC and Panama.
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