According to the International Copper Study Group – ICSG report for copper supply and demand dated 19 June 2020, world refined copper production remained essentially unchanged in 1Q20 with primary production (electrolytic and electrowinning) up by 1.5% and secondary production (from scrap) down by 7.5%.
DRIVERS OF GLOBAL REFINED COPPER OUTPUT
Chile. Electrolytic refined output increased by 30% as in the comparative month of 2019 production was negatively affected by temporary smelter shutdowns whilst undergoing upgrades to comply with new environmental regulations. Total Chilean refined production (including Electrowinning) increased by 12%.
China. Chinese refined production was negatively impacted by temporary shutdowns related to COVID-19 restrictions, tight scrap supply and constraints associated with oversupply in the sulphuric acid market.
Democratic Republic of Congo and Zambia. In Africa, refined production in the DRC was up 2.5% but production in Zambia declined by 18% due to operational issues and temporary shutdowns.
Japan. Refined production increased by 8% mainly because maintenances negatively affected output during the same period of 2019.
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