LONDON (Scrap Register): Global copper mine production in January rose 0.5% on a year-over-year basis, according to latest data from the International Copper Study Group (ICSG).

The global copper market was balanced through the first month of the year. However, when accounting for changes in Chinese bonded stocks, the market was in surplus by 65,000 tons.

Concentrate production during the month was unchanged, while solvent extraction-electrowinning increased 2%.

Chile’s production increased 0.5%, as lower growth by Codelco offset increases at Escondida. Aggregate production in the Democratic Republic of the Congo (DRC) and Zambia fell by 5%, while Chinese production fell 4%.

Indonesian production fell 4%, as its sector continues to be impacted by mines transitioning to different ore zones.

Elsewhere, output was down in Peru and up in the U.S., according to the ICSG.

Global refined copper production increased 3% in January on a year-over-year basis, with primary production up 5% and secondary production from scrap down 3%.

Chile’s electrolytic refined output increased by 40%, while its total refined production (including electrowinning) increased by 16%.

China’s growth was impacted by an earlier than usual Lunar New Year, according to the ICSG, with growth totaling 1.5%.

Aggregate production in the DRC and Zambia fell by 14%, while Japan’s refined production rose by 3%.