Global refined copper market regains supply shortage

The International Copper Study Group recently announced that in May, the global supply shortage of the refined copper market was 17,000 tons, ending the previous seven months of supply surplus; January-May refining market surplus of 228,000 tons.

The global production of refined copper continues to grow steadily. China’s apparent demand for refined copper in May reached the highest level since December 2011, and the United States’ demand for refined copper reached its highest level since March 2012. The International Copper Research Group was founded in 1992 and headquartered in Lisbon, Portugal. It is an intergovernmental commodity organization dedicated to solving problems affecting copper production, use, and trade, paying particular attention to issues such as market transparency, market access, and sustainable development.