NEW YORK, Feb 22 (Reuters) - World refined copper
production exceeded consumption by 144,000 tonnes between
January and November of 2009, more than doubling a market
surplus of 58,000 tonnes in the same year-ago period, the
International Copper Study Group (ICSG) said in its latest
monthly bulletin.
World refined copper output in January to November was 16.779 million tonnes, while consumption amounted to 16.635 million tonnes, the Lisbon-based ICSG said.
It said global consumption in the first 11 months of the year fell by less than one percent versus the same period in 2008.
'Chinese apparent usage, which accounted for 40 percent of world usage over this period, grew by 1.9 tonnes, or 41 percent, and nearly offset a 16 percent decline in the rest of the world,' the report said.
World refined copper consumption and supply trends,
2008
2009, in thousands of tonnes:
Jan-Nov 08 Jan-Nov 09 World mine production 14,137 14,361 World mine capacity 17,162 17,831 Mine capacity utilization (pct) 82.4 80.5 Primary refined production 14,095 14,159 Secondary refined production 2,614 2,620 World Refined production 16,708 16,779 (secondary+primary) World refinery capacity 20,581 21,448 Refinery capacity utilization (pct) 81.2 78.2 World refined consumption (1) 16,650 16,635 Refined stocks (end of period) 1,031 1,341 Period stock change 3 183 Refined surplus/deficit (2) 58 144 Refined surplus/deficit 197 285 (seasonally adjusted) (3) (1) = Based on EU apparent usage (2) = Surplus or deficit is calculated using total refined production minus refined consumption (3) = Surplus/deficit is calculated using seasonally adjusted refined production minus seasonally adjusted refined usage.
(Reporting by Chris Kelly; Editing by Marguerita Choy) Keywords: mc COPPER ICSG (chris.kelly@thomsonreuters.com; +1 646 223 6042; Reuters Messaging: chris.kelly.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
World refined copper output in January to November was 16.779 million tonnes, while consumption amounted to 16.635 million tonnes, the Lisbon-based ICSG said.
It said global consumption in the first 11 months of the year fell by less than one percent versus the same period in 2008.
'Chinese apparent usage, which accounted for 40 percent of world usage over this period, grew by 1.9 tonnes, or 41 percent, and nearly offset a 16 percent decline in the rest of the world,' the report said.
World refined copper consumption and supply trends,
2008
2009, in thousands of tonnes:
Jan-Nov 08 Jan-Nov 09 World mine production 14,137 14,361 World mine capacity 17,162 17,831 Mine capacity utilization (pct) 82.4 80.5 Primary refined production 14,095 14,159 Secondary refined production 2,614 2,620 World Refined production 16,708 16,779 (secondary+primary) World refinery capacity 20,581 21,448 Refinery capacity utilization (pct) 81.2 78.2 World refined consumption (1) 16,650 16,635 Refined stocks (end of period) 1,031 1,341 Period stock change 3 183 Refined surplus/deficit (2) 58 144 Refined surplus/deficit 197 285 (seasonally adjusted) (3) (1) = Based on EU apparent usage (2) = Surplus or deficit is calculated using total refined production minus refined consumption (3) = Surplus/deficit is calculated using seasonally adjusted refined production minus seasonally adjusted refined usage.
(Reporting by Chris Kelly; Editing by Marguerita Choy) Keywords: mc COPPER ICSG (chris.kelly@thomsonreuters.com; +1 646 223 6042; Reuters Messaging: chris.kelly.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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