World copper in 133,000 T surplus Jan-Apr-WBMS

Friday, Jun 19, 2009
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LONDON, June 17 (Reuters) - The global copper market was in a surplus of 133,000 tonnes in January-April, the World Bureau of Metal Statistics (WBMS) said on Wednesday. That figure compared with a deficit of 161,000 tonnes in the same period in 2008, the British-based consultancy said in its monthly report. Mine production of copper for Jan-Apr period was 5.02 million tonnes, which was 1.6 percent higher than in the same months of 2008. Refined production rose by 0.2 percent over the same period to 6.01 million tonnes, while consumption was 4.6 percent lower at 5.874 million tonnes. "Bulgarian, Zambian and Chilean output were jointly 178 kt higher than the previous year but output in India and Japan fell by 9 kt and 71 kt respectively," the report said, adding that Chinese output also rose by 55,600 tonnes. Aluminium was in surplus by 591,000 tonnes compared with a surplus of 176,000 tonnes in the same period last year while the lead market was in surplus of 11,600 tonnes versus a surplus of 14,100 tonnes a year earlier. Zinc output outpaced use by 16,400 tonnes, the nickel and tin markets recorded a surplus of 61,900 tonnes and 2,400 tonnes respectively, according to WBMS.

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