Jun 20, 2012 (Dow Jones) -- The global copper market was in deficit by 277,000 metric tons in the first four months of the year, the World Bureau of Metal Statistics said Wednesday. This compares with a surplus of 320,000 tons in the whole of 2011.
Global copper consumption in January to April was 6.903 million tons, compared with 19.470 million tons over the whole of 2011. Chinese apparent consumption rose by 775,000 tons to 3.039 million tons in the period, which represented just over 44% of global demand.
Global refined copper production in January to April rose 3% from the same period a year earlier to 6.63 million tons, with notable output increases seen in Spain, Iran and India.
In April, global refined copper production was 1.670 million tons and consumption was 1.707 million tons, the WBMS said.