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Global copper production increased

GFMS experts provide the results of calculations based on data from the leading copper producers. According to them, the global production of the red metal in Ikvartale 2015 regarding the same period last year increased by 3%. The most noticeable increase in production observed in Indonesia, the Congo, the United States and Chile. Moreover, growth in Chile is based on 35% of production capacity in the field «Escondida». According to GFMS surplus on the world market in 2015 will reach about 400 000 tonnes. The average price of copper will be 5975 USD / ton.

Analysts ICSG adhere GFMS position, indicating the excess copper in the amount of 364 000 tonnes. Over the past six years, production will exceed demand for the first time. In 2016, ICSG specialists promise to decrease the surplus to the level of 230,000 tonnes amid rising consumption. Some of the experts suggest that the level of excess copper will not be as high, given the problems with the development of metal in Chile.

Not taking into account the results of CODELCO, 6 producing leaders in the January-March 2015 decreased production by 2% compared to the same period in 2014. Developing Ikvartala 2015 reached the level of 1 million. 649 thousand. Tonnes. The world observed the expansion of existing facilities and new projects. However, the decline in the quality of raw materials and production problems have a negative impact on the production volumes of copper.

The company of BHP, Australia, increasing production at «Escondida» to the level of 338 200 tonnes (27% growth), reduced output by «Olympic Dam» by 44% to reach 28,600 tons. The fall was due to a sudden problem with the electricity.

There is a decrease in production and in the project «Los Bronces» in Chile. Release level copper company Anglo American amounted to 94,700, down by 18%.

The FCX Company, United States, 17% increased the performance in North America to the level of 205,000 tonnes. One only mine «Morenci» grew by 38% to reach 93,000 tons. However, the decline in copper production in South America accounted for 39% — 87 000 tons — against the background of the sale «Ojos del Salado» and «Candelaria».

Issue in Africa from Glencore company increased by 4% to reach 110 700 tonnes. This development in South America fell by 17% to 142,700 tonnes, taking into account the quality of raw materials decline.

A subsidiary of Rio Tinto, the American Kennecott Utah Copper, copper reduced the release of figures by 61% to reach 26,600 tons.

Vale's company, the only one of these, reached a record production of copper, increasing performance by 6.8% to 62,400 tonnes.

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