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According to the latest data from the World Bureau of Metal Statistics (WBMS), the global copper market was short of 212,600 tons from January to December 2017 and 102,000 tons
for the whole of 2016.
Global refined copper production in December 2017 was 2.
094 million tonnes, consumption was 2,136,100 tonnes, and supply shortages were 42,100 tonnes
.
Meanwhile, the International Copper Research Group (ICSG) said in its latest monthly report that the global refined copper market was oversupplied by 17,000 tonnes in December and 41,000 tonnes
in November.
For the whole of last year, the global refined copper market was short of 163,000 tons, compared with a shortfall of 150,000 tons
a year earlier.
Global copper mine production fell by 2.
7% in 2017, and production recovery in 2018 is expected to increase by 2.
5%, an increase of about 500,000 tons; The growth rate of global refined copper consumption was only 1% in 2017 and will rise to 2.
3%
in 2018.
From the data given by the two major statistical agencies, it can be seen that the current global copper market supply gap still exists, which is conducive to supporting the rebound
of copper prices.
