WBMS: Global Copper Market In 86,900-Ton Surplus In January

LONDON, Mar 17, 2010 (Dow Jones Commodities News via Comtex) --
Global copper market was in a 86,900 metric ton surplus in the first month of 2010, the World Bureau of Metal Statistics said Wednesday.

Copper was in a 246,500 ton surplus in the whole of 2009.

World mine production in January totaled 1.29 million tons, up 2.6% from the same month of 2009, and refined production totaled 1.53 million tons, up 5.9% compared with the same month last year.

Chinese output rose by 30,000 tons and Chilean metal production fell to 258,000 tons, the lowest monthly total since February 2009.

Global consumption for January 2010 was 1.526 million tons and the 2009 calendar year total was 18.35 million tons, the WBMS said.