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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-month supply surplus; from January to May, the refined copper market had a 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, with particular attention to issues such as market transparency, market access, and sustainable development.