WBMS: Global Copper Market In 129,000-ton Deficit Jan-Jun

Aug 15, 2012 (Dow Jones) LONDON--The global copper market was in deficit by 129,000 metric tons in the first six months of the year, the World Bureau of Metal Statistics said Wednesday.

This compares with a surplus of 433,000 tons in the whole of 2011.

Global copper consumption in January to June was 10.201 million tons, compared with 19.465 million tons over the whole of 2011. Chinese apparent consumption rose by 905,000 tons to 4.414 million tons in the period, which represented just over 43% of global demand.

Global refined copper production in January to June rose 3.1% from the same period a year earlier to 10.1 million tons, with notable output increases seen in Spain, Iran and India, while Chilean output fell.

In June, global refined copper production was 1.709 million tons and consumption was 1.694 million tons, the WBMS said.