Global copper balance widens to 160 000 t deficit as refined output stalls

The world's refined copper deficit has increased to 160 000 t for the first seven months of 2017, as refined copper supply has stagnated, according to the International Copper Study Group (ICSG). The Lisbon-based think tank said the July deficit was in fact the lowest recorded so far this year, at 35 000 t, despite a 0.5% decline in refined copper use to 13 690 t, as scrap supplies improved and constrained use growth globally. This was significantly more than the six-month copper balance that showed a deficit of 75 000 t.