so the current is probably just from the external metalwork being at a slightly different potential to the panel earth. Is this what is meant by protective conductor current?
In a general sense, yes. But usually it is referred to in the regs when dealing with systems like large IT or electronics installations where the total leakage current on any one circuit is above 10mA and so presents something of a risk in itself.
For example:
More essential technical advice from the team at ELECSA. As part of their normal operation many electronic items, such as computers, printers, games consoles and the like, can cause a current to flow i
professional-electrician.com
Usually you don't want a "single point of failure" where one fault allows someone to be put at risk. In the usual Class I electronics that is achieved as either an open CPC
or a fault to chassis is OK as no long-standing risk is present. Of course, either fault should be fixed as soon as detected.
However, in the high leakage current case an open CPC is of immediate risk as a troubling amount of current could be passed through the body of anyone coming in contact with the now-floating metalwork and true Earth (or a connected CPC). Hence the above article about double CPCs or the use of heavier conductors to reduce the risk of an open fault.
What you have observed
might be safe, in that it could be only a couple of volts open-circuit but a low enough path impedance to get a lot of current. However, it might well be a high risk if it is a high voltage / modest impedance fault that will push a significant current through typical body resistance. Which is why you should always be careful at opening any CPC if it might be live anywhere in the system.
With the growing appreciation of the "open PEN" risk for EV
chargers, etc, there should also be a realisation that if you are attending a fault during open-PEN conditions then disconnecting a CPC/bond/earth connection could well present you with lethal levels of shock and probably no RCD protection (as it is on the CPC, not the L-N current the RCD can sense and disconnect).
So while clamping the CPC to check leakage current is not a meaningful test, it is a
very good thing to do before working on the MET/bonds just in case!