ICSG said in a press release: "After three years of basically unchanged and adjusted by historical interruption factors, it is estimated that the world copper output will increase by about 3.5% in 20021year and 3.7% in 2022. It is estimated that the global output in 20021year will recover from the level limited by the epidemic in 2020, and benefit from the increase in supply brought by the recent increase in mines. "
2021/Major projects started in 2022 include Kamoa Kakula in the Democratic Republic of Congo, Quellaveco in Peru and Quebrada Blanca QB2 in Chile.
In addition, it is expected that many small and medium-sized projects will be put into production in the coming months.
The government statistics agency INE said on Friday that the copper output of Chile, the world's largest copper producer, fell for the first consecutive month 10 in March.
In view of the strong output of Chilean national copper companies Codelco and Collahuasi, the output of BHP Billiton Escondida continued to decline, and the copper output of most mines in Chile was mixed in March. In March, the total copper production in Chile decreased by 1.2% year-on-year to 488,700 tons.
Among them, Codelco's copper output in March increased by 0.7% compared with the same month of last year to 65,438+048,700 tons, while Collahuasi, a joint venture between Glencore and Anglo-American Resources, increased by 5.2% year-on-year to 53,000 tons.
However, the output of Escondida, a large copper mine in the world, decreased for eight consecutive months, with a year-on-year decrease of 1 1.7% to 89,900 tons, which offset the above increase.
At the same time, the copper price exceeded $0 per ton 10000 for the first time since last week's 201year, which was close to the historical high set in that year. Copper for July delivery in Comex market of new york rose 65,438+0% on Monday, and futures reported $4.5080 per pound ($9,965,438+$076 per ton).
After the growth of 1.6% in 2020, it is predicted that the world refined copper output will increase by about 3% in 20021and 2022. In addition, after the decline of 4% in 20 19 and 2020, the world's second refining output (from waste) is also expected to increase in 20021and 2022.