The global copper market to witness a surplus of 285k tonnes in 2020 amid weak demand due to the COVID-19 outbreak with an overhang of 675k by 2021- says International Wrought Copper Council (or IWCC).
- The organisation also anticipates that the previous supply deficit forecasts would be offset by the plunge in the global demand.
- As per the assessment of IWCG, copper demand would plunge by 5.4 per cent on a yearly basis in 2020, while rebounding by 4.4 per cent a year later.
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