In the first nine months of 2015, the global copper market was oversupplied by 377,000 tons

According to data released by the World Bureau of Metal Statistics (WBMS), the global copper market had an oversupply of 377,000 tons from January to September 2015 and 298,000 tons in 2014
.
From January to September 2015, global copper mine production was 14.
18 million tons, an increase of 3.
0%
over the same period of the previous year.

Foreign production, global refined copper production increased to 17.
1 million tons, up 1.
2%
from the same period last year.
China and India increased production to 70,000 tons and 36,000 tons
respectively.
Global copper consumption from January to September 2015 was 16.
682 million tons, compared with 16.
827 million tons
in the same period last year.

Domestic production, the latest data released by the National Bureau of Statistics showed that China's refined copper production in October increased by 0.
6% from a year ago to 693,180 tons
.
Refined copper production in September was 680235 tonnes
.
In the first 10 months of 2015, China's refined copper production rose by 6.
8% to 6.
456 million tons, and the growth rate has rebounded, and smelters need to
supplement the annual plan.

In terms of imports, data released by the General Administration of Customs showed that China imported 1.
05 million tons of copper concentrate in October, down 13.
2% month-on-month, but still increased by 9.
4% year-on-year, unwrought copper and copper imports in October were 420,000 tons, an increase of 5.
83% year-on-year, and the cumulative value of unforged copper and copper imports from January to October was 3.
81 million tons
.

From the above data, whether foreign or domestic, the supply pressure of the copper market is still increasing, and it is difficult to change the oversupply pattern
of foreign mine production reduction and domestic smelter maintenance.