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Copper production surplus forecast for 2015

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Staff writer ▼ | October 25, 2014
Global refined copper production in 2015 will for the first time in five years outpace demand, according to the International Copper Study Group (ICSG).
Copper production
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Based on ICSG projections, world refined copper production will fall short of demand by some 270,000t this year, with the group's early figures suggesting a surplus of around 390,000t in 2015.

World refined copper production is set to reach 22.1Mt in 2014, 5% more than last year, and is expected to total 23.1Mt in 2015, a 4% increase, ICSG said.

ICSG data indicates global mine production of the red metal grew 8% in 2013 and is projected to rise 2.6% this year, while early projections put growth at around 6.7% in 2015.

The group said operational setbacks and delays in ramping up and starting new mines partially explain lower than anticipated growth in 2014 whereas expansions and new mine projects are anticipated to result in higher output in 2015.