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The global copper market supply gap from January to April 2018 was 213,000 tons, and the supply gap for the whole year of 2017 was 235,000 tons
.
Inventories were reported to increase during the January-April period, rising by 262,000 mt
from the end of December 2017.
WBMS data shows that global mine copper production from January to April 2018 was 6.
7 million tons, an increase of 4.
7%
over the same period in 2017.
Global refined copper production from January to April was 7.
77 million tons, up 2.
9% from the same period last year, of which China and Chile increased significantly, up 128,000 tons and 51,000 tons
, respectively.
WBMS data shows that global copper consumption was 7.
99 million tons from January to April 2018, compared to 7.
64 million tons
in the same period in 2017.
China's copper demand from January to April is expected to be 4.
262 million tons, 17% higher than last year's total and accounting for more than 53%
of global demand.
Production in the EU28 fell by 1.
0%, and demand was 1.
139 million tons, up 4.
6%
year-on-year.
In April 2018, global refined copper production totaled 1,952,200 mt and consumption was 2,047,300 mt
.
