The International Copper Study Group (ICSG) said in its latest monthly report that the global refined copper market was short by 90,000 tonnes in June 2023, compared with a revised supply deficit of 58,000 tonnes in May.
From January to June 2023, the global refined copper market was oversupplied by 213,000 tons, compared to a shortage of 196,000 tons in the same period last year.
Global refined copper production in June was 2.25 million tons and consumption was 2.34 million tons. Adjusted for changes in bonded warehouse inventories in China, the global shortage of refined copper in June was 120,000 tons, compared with a shortage of 100,000 tons in May.
