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Global Copper Smelting Activity Dips in November - SAVANT

Metal News - Published on Thu, 12 Dec 2019

Image Source: earthi.space
Reuters reported that global refined copper production edged lower in November after some smelters temporarily shut for maintenance. According to an index based on satellite surveillance of copper plants SAVANT by UK based Earth-I, copper smelting activity recovered, however, in the second half of the month and in early December. This fell to an average of 88.6 in November, down 1.1 points from a month earlier. The current level was at the lower end of the range over the past 12 months, which was 85.2 to 94.3. The index represents the percentage of smelters globally that are active.

SAVANT tracks 100 smelters accounting for 80-90% of global production. It sells data to fund managers, traders and miners but also publishes a free monthly index of copper smelter activity.

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Posted By : Rabi Wangkhem on Thu, 12 Dec 2019
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