LONDON, Sept. 17 -- The global copper market was in a 153,000-metric-ton deficit from January to July of this year, the World Bureau of Metal Statistics said Wednesday.
That compares with a 100,000-ton deficit during the same period of 2008.
Global refined copper production fell by 0.5% to 10.6 million tons in Janaury-July, world mine production rose 1.8% to 9.05 million tons while consumption was only slightly lower on the year at 10.78 million tons.
Chinese output rose by 61,800 tons and together Bulgarian, Zambian and Chilean output rose by 320,000 tons on the year. Output fell in Japan, Canada and Germany by a total of 194,000 tons.
Chinese apparent consumption rose by 1.367 million tons to 4.293 million tons. However, the increase may mask a build up of unreported stocks since the output of semi-manufactures was reported to be only 14.3% higher than last year, WBMS said.
Meanwhile, E.U. 27 demand fell by 26.5% in the period to 1.728 million tons.
In July 2009 alone, refined copper production was 1.525 million tons and consumption was 1.579 million tons.
(Source: Dow Jones)