Copper surplus at 50,000T in April: ICSG
Jul 19, 2013 | 03:56 PM
| Everdeen Mason
NEW YORK The global copper market showed a 50,000-tonne surplus in April due to weak apparent refined demand in major consuming regions, according to a report from the International Copper Study Group (ICSG).
Refined copper production totaled almost 1.78 million tonnes in April compared with global usage of almost 1.73 million tonnes, according to the ICSG data.
For the first four months of 2013, the market was in a 266,000 tonne surplus as world mine production increased by almost 9 percent compared with production in the 2012 period mainly owing to a recovery in production levels from constrained output in early 2012, according to the ICSG. ....
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