Global Q1 copper excess reached 133,000 tonnes
Thursday, 25 Jun 2009
World Bureau of Metal Statistics reported that copper excess in global market in January to April 2009 period reached 133,000 tonnes. At the same time a year ago there was copper shortage of 161,000 tonnes.
Thus, mine manufacturing of copper in the report period made 5.02 million tonnes, up by 1.6% YoY. Refined copper output has increased by 0.2% YoY to 6.01 million tonnes. Besides, world copper consumption in report period reached 5.874 million tonnes, down by 4.6% YoY.
Chinese demand grew to 2.316 million tonnes. The demand in Europe decreased by 22% YoY and made 1.02 million tonnes. At the same time, the volume of world registered copper deposits in April 2009 decreased by 108,600 tonnes.
(Sourced from www.minprom.ua)
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