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Copper Market in Deficit in January to November 2019-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
3/3/2020 - Copper exhibition -non-ferrous metals expo |
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World Bureau of Metal Statistics latest report said The copper market recorded a deficit of 269 kt in January to November 2019 which follows a deficit of 275 kt in the whole of 2018. Reported stocks rose during November to close 6.2 kt higher than at the end of December 2018. This November increase includes net deliveries of 46.5kt out of the LME warehouses and net deliveries of 22.8 kt out of Shanghai warehouses. Comex stocks dropped by 64.1 kt over the first eleven months of the year. No allowance is made in the consumption calculation for unreported stock changes, particularly in the Chinese government stockpile.
World mine production in January to November 2019 was 18.8 million tonnes which was 1.1 per cent higher than in the same period in 2018. Global refined production for January to November 2019 was 21.45 million tonnes down 0.6 per cent compared with the previous year with significant decreases recorded in India (down 123kt) and in Chile (down 202 kt).
Global consumption for January to November 2019 was 21.72 million tonnes compared with 21.87 million tonnes for the same months of 2018. Chinese apparent demand for the period January to November 2019 was 11512 kt which was 1.8 per cent higher than the first eleven months of 2018. EU28 production fell by 5.3 per cent and demand was 2858 kt, 7.3 per cent below the January to November 2018 total.
In November 2019, refined copper production was 2073.6 kt and consumption was 2145.9 kt.
有色金属展-铜材展-2020年广州国际有色金属工业（铜业）展览会
-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
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