Surplus in global Copper Market:
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In the latest monthly bulletin the International Copper Study Group(ICSG) said that the world refined copper consumption lagged production by361,000 tonnes in 2006, against a deficit of 107,000 tonnes in 2005. The Lisbon based ICSG said world refined copper output in 2006 was 17.384 million tonnes, while used totaled 17.022 million. In December, continued growth in refined copper output combined with weaker holiday-period usage in the US and European Union and weaker usage in Japan resulted in large apparent monthly surplus of more than 200, 00 tonnes, the report said. In December Chinese apparent usage continued to slightly increase, ICSG reported, but the combined usage of the US and European Union fell by 19 percent in December when compared with usage in December 2005 and by 23 percent from usage in November 2006.
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Source : Business Line |
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