Global copper output tops demand

Print this page Posted on : 11-25-2008 by recycleinme.com

Global copper production exceeded the demand in August leading to a surplus of 1,25,000 tonnes of the metal, according to data compiled by the International Copper Study Group. ''Larger surpluses are common in August due to lower copper usage during the traditional summer holiday period in Europe and North America,'' a preliminary data from the International Copper Study Group said. It added that the refined copper balance for the first eight months of 2008, including revisions to data previously presented, indicated a production surplus of about 75,000 tonnes, around 240 per cent increase over the same period last year. Copper output had surpassed its consumption by 22,000 tonnes in the same period a year ago.

Source : Business Line