The International Copper Study Group (ICSG) reported in its most recent monthly bulletin that the global refined copper market had a 119,000 metric tonnes deficit in November as opposed to a 48,000 metric tonnes deficit in October.
In November, 2.38 million metric tonnes of refined copper were consumed worldwide, compared to 2.26 million metric tonnes of output.
The ICSG reported that there was a 128,000 metric tonnes deficit in November as opposed to a 70,000 metric tonnes deficit in October after accounting for variations in inventory in Chinese bonded warehouses.