{"id":350434,"date":"2024-07-23T20:46:20","date_gmt":"2024-07-23T15:16:20","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=350434"},"modified":"2024-07-23T20:46:20","modified_gmt":"2024-07-23T15:16:20","slug":"icsg-reports-high-supply-surplus-on-the-copper-market-commerzbank-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/icsg-reports-high-supply-surplus-on-the-copper-market-commerzbank-crypto-news\/","title":{"rendered":"ICSG reports high supply surplus on the Copper market \u2013 Commerzbank &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>In May, Copper supply exceeded demand by 65 thousand tons, with the ICSG reporting a supply surplus of 416 thousand tons for the first five months. Even though seasonal effects play a role here and the seasonally adjusted market surplus also reported by the ICSG was \u2018only\u2019 250 thousand tons, Commerzbank\u2019s commodity strategist Barbara Lambrecht notes.<\/p>\n<h2 class=\"fxs_headline_medium\">High supply surplus on the Copper market<\/h2>\n<p>\u201cThe supply and demand figures published yesterday by the\u00a0International Copper Study Group\u00a0confirmed an amply supplied market for May and the first five months of the current year: In May, supply exceeded demand by 65 thousand tons, with the ICSG reporting a supply surplus of 416 thousand tons for the first five months.<\/p>\n<p>\u201cEven though seasonal effects play a role here and the seasonally adjusted market surplus also reported by the ICSG was \u2018only\u2019 250 thousand tons, the surplus is still high by historical standards and already exceeds the expected supply surplus of 162 thousand tons that the ICSG had <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/forecast\" data-fxs-autoanchor=\"\">forecast<\/a> in April for 2024 as a whole.\u201d<\/p>\n<p>\u201cThe main reason for this was the sharp rise in Copper refining production: around 6% more was produced worldwide in the first five months than in the previous year, primarily due to China&#8217;s sharp rise in production, while demand \u2018only\u2019 increased by 3.7% during this period. Copper mine production in the period considered was still 4% up on the previous year: the ICSG expects growth of only 0.5% for the year as a whole.\u201d<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In May, Copper supply exceeded demand by 65 thousand tons, with the ICSG reporting a supply surplus of 416 thousand tons for the first five months. Even though seasonal effects play a role here and the seasonally adjusted market surplus also reported by the ICSG was \u2018only\u2019 250 thousand tons, Commerzbank\u2019s commodity strategist Barbara Lambrecht [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":116013,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[299,201,248,251,246,351,1584,257,255,250,350,252,247,253,249,256,254],"class_list":["post-350434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-banks","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-commodities","tag-copper","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-metals","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/350434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=350434"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/350434\/revisions"}],"predecessor-version":[{"id":350435,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/350434\/revisions\/350435"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/116013"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=350434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=350434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=350434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}