Global copper market in deficit

Print this page Posted on : 06-26-2009 by recycleinme.com

The global copper market was in a 50,000 tonne deficit during March, owing to high net Chinese imports, but for the first quarter the market recorded a 50,000 tonnes surplus, the International Copper Study Group said in a statement. The seasonally adjusted surplus for the first quarter was 155,000 tonnes. In 2008, the global copper market recorded a deficit of 67,000 tonnes, and a 38,000 tonnes seasonally adjusted deficit, the ICSG said. In the first quarter, world consumption fell 4 per cent on the year. Chinese apparent usage ballooned by 36 per cent, as net imports of refined copper almost doubled during that time to about 750,000 tonnes, partially offsetting a decrease of 19 per cent in the rest of the world.

Source : Business Line