Global copper market logs 34,000T surplus in Dec.: ICSG

Mar 24, 2014 | 09:10 AM | Saranya Kapur

Tags  ICSG, International Copper Study Group, copper production, copper surplus, copper deficit, copper usage, refined copper, Saranya Kapur

NEW YORK — The global refined copper market swung to a 34,000-tonne surplus in December from a deficit a month earlier amid weak usage in major copper consuming regions, according to the International Copper Study Group (ICSG).

Demand in China appeared strong in December, but ICSG noted “substantial fluctuations” in copper inventories held in bonded warehouses in China. After adjusting for these fluctuations, the production surplus stood at 74,000 tonnes.....

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