Gold Silver Reports ✅ — LME Copper prices averaged at $ 5644 per tonne by the end of March 2017 against $ 4942 per tonne by the end of March 2016, up 14.2% on a year on year basis. Meanwhile, losses of 5% were registered on a year on year basis from $ 5941.55 per tonne during February 2017.
The International Copper Study Group (ICSG) released preliminary data for 2016. In 2016 world mine production is estimated to have increased by around 5%, or 1 Mt (million tonnes), with concentrate production increasing by 7% and solvent extraction-electrowinning (SX-EW) declining by 2%: The increase in world mine production in 2016 was mainly due to 38% (650,000 t Cu) rise in Peruvian concentrate output that benefitted from new and expanded capacity brought on stream in the last two years. Chinese apparent demand (excluding changes in unreported stocks) increased by around 2.5% based mainly on 6% growth in refined production as in fact net imports of refined copper declined by 7.5%. — Neal Bhai Reports
