World Bureau of Metal Statistics (WBMS) has revised its estimates of
Copper that showed Copper markets were in deficit of 37000 tonnes in
January-November 2012. The revised estimate showed that Copper markets
were in deficit of 250000 tonnes compared to a full year deficit of
244000 tonnes in 2011. The total stocks of Copper were up by 23400
tonnes in the month of November 2012 but were 37000 tonnes lower than
end of 2011.
Mine production of Copper showed an increase of 4.3% in the 11 month period to 15.47 million tonnes. World Refined Copper production increased to 18.53 million tonnes, up 2.2% from Jan-Nov 2011. The rise was basically driven by India and Spain where refined production accelerated by 25200 tonnes and 62200 tonnes respectively. Copper production of Chile declined by 177000 tonnes. Refined Copper production was 1.70 million tonnes in November 2012.
Global Copper consumption in the first 11 months of this year was 18.78 million tonnes, compared to 19.63 million tonnes in the full year ending 2011. China consumed 43% of the total world Copper consumption. The consumption of Copper was 8.03 million tonnes, up 954000 tonnes in January-November 2012. European Union demand remained declining and was at 2.88 million tonnes, down 6.9%. Refined Copper consumption was 1.75 million tonnes in November 2012.
Mine production of Copper showed an increase of 4.3% in the 11 month period to 15.47 million tonnes. World Refined Copper production increased to 18.53 million tonnes, up 2.2% from Jan-Nov 2011. The rise was basically driven by India and Spain where refined production accelerated by 25200 tonnes and 62200 tonnes respectively. Copper production of Chile declined by 177000 tonnes. Refined Copper production was 1.70 million tonnes in November 2012.
Global Copper consumption in the first 11 months of this year was 18.78 million tonnes, compared to 19.63 million tonnes in the full year ending 2011. China consumed 43% of the total world Copper consumption. The consumption of Copper was 8.03 million tonnes, up 954000 tonnes in January-November 2012. European Union demand remained declining and was at 2.88 million tonnes, down 6.9%. Refined Copper consumption was 1.75 million tonnes in November 2012.
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