The International Copper Study Group (ICSG) has released preliminary data for March world copper supply and demand in its June 2021 Copper Bulletin.
Data indicates that world copper mine production increased by 3.7% in the first three months of 2021, with concentrate production increasing by 5.5% and solvent extraction-electrowinning (SX-EW) declining by about 3.5%.
World mine production started to recover in June 2020 as lockdown measures eased and the industry adapted to stricter health protocols that remain in place in 2021.
Output in Peru, the world’s second biggest copper mine producing country, increased by 3% mainly because March production was up by 18% from a constrained March 2020 basis, ICSG reports. However, Jan-Mar 2021 production is still 10% below that of Jan-Mar 2019.