Copper market deficit 150,000 T in Jan/May -ICSG
by Reuters News on 24 August 2009, 10:55 AM
communities.thomsonreuters.com
LONDON, Aug 24 (Reuters) - World refined copper consumption exceeded production by 150,000 tonnes between January and May this year, versus a deficit of 183,000 tonnes in the same year-ago period, the International Copper Study Group (ICSG) said in its latest monthly bulletin.
The Lisbon-based ICSG said last week, world refined copper output in January to May was 7.425 million tonnes, while consumption amounted to 7.575 tonnes.
World refined copper consumption and supply trends, 2008-2009, in thousands of tonnes:
Jan-May 09 Jan-May 08
World mine production 6,352 6,218
World mine capacity 8,056 7,718
Mine capacity utilization (pct) 78.8 80.6
Primary refined production 6,342 6,345
Secondary refined production 1,083 1,131
Refined production 7,425 7,476
(secondary+primary)
World refinery capacity 9,622 9,236
Refinery cap. utilization (pct) 77.2 80.9
World refined usage (1) 7,575 7,659
Refined stocks (end period) 1,054 877
Period stock change -110 -151
Refined surplus/deficit (2) -150 -183
Refined surplus/deficit 60 25
(seasonally adjusted) (3)
(1) = Based on EU apparent usage
(2) = Surplus or deficit is calculated using total refined production minus refined consumption.
(3) = Surplus/deficit is calculated using seasonally adjusted refined production minus seasonally adjusted refined usage.
(Reporting by Michael Taylor; editing by Jon Boyle) |
