Global Copper Market In 82,000-Ton Deficit In June
sfomag.com
The global market for copper was in an 82,000-metric- ton deficit in June, bringing the deficit for the first six months of the year to 216,000 tons, the World Bureau of Metal Statistics said Wednesday.
This compares with a surplus of 182,000 tons in the same period of last year, the group said.
No allowance is made in the consumption calculation for unreported stock changes.
Reported stocks decreased by 25,000 tons over the period, WBMS said.
Mine production was up 4.7% on the year, at 7.7 million tons, while refined production rose by 3.2% to just under 8.85 million tons.
Chinese output rose by 135,000 tons, while Indian, Japanese and Chilean production rose by 73,000 tons, 27,000 tons and 138,000 tons on the year respectively, the WBMS said. Zambian output fell by 35,000 tons, it said.
Consumption in January-June was 9.06 million tons, a rise of 4.8% on the year. Chinese consumption increased to 2.387 million tons from 1.701 million tons a year earlier, WBMS said.
Demand from the European Union was 2.162 million tons, 33,000 tons lower on the year.
In June, refined copper production was 1.463 million tons and consumption was 1.545 million tons.
The calculated apparent demand data excludes any changes in government stockpiles or any other unreported stocks. |
