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Copper Market In 71,000-Ton Deficit Jan-Aug - WBMS

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WBMS: World Lead Mkt In 6,000-Ton Deficit Jan-Aug

LONDON, Oct. 22 -- The global copper market was in deficit by 71,000 metric tons between January and August, the World Bureau of Metal Statistics said Wednesday.
&nbsp;&nbsp;&nbsp; In the same period of 2008 the market was in surplus by 10,000 tons.
&nbsp;&nbsp;&nbsp; Global consumption in the first eight months of 2009 was 12.26 million tons, which is fractionally higher than the same period last year.
&nbsp;&nbsp;&nbsp; World mine production in the period rose 1.98% on the year to 10.36 million tons and refined production fell 0.4% to 12.2 million tons.
&nbsp;&nbsp;&nbsp; Chinese output rose 99,900 tons, and Bulgarian, Zambian and Chilean output together rose 305,000 tons from the previous year. But output in Japan, Canada and Germany fell by a total 208,000 tons, WBMS said.
&nbsp;&nbsp;&nbsp; Chinese apparent consumption increased to 4.836 million tons from 3.296 million tons in the previous year. However, this increase masks a build up of unreported stocks since the output of semi manufacturers was reported to be only 15.6% higher than last year, WBMS said.
&nbsp;&nbsp;&nbsp; EU27 countries' demand fell 25.9% to 1.948 million tons from January to August 2008 total.
&nbsp;&nbsp;&nbsp; In August 2009, global refined copper production was 1.568 million tons and consumption was 1.455 million tons, WBMS said.
&nbsp;&nbsp;&nbsp; (Source: Dow Jones)

SMM Daily Review (Oct. 21)

Copper Market In 71,000-Ton Deficit Jan-Aug - WBMS | Shanghai Non ferrous Metals

Copper Market In 71,000-Ton Deficit Jan-Aug - WBMS

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