Copper......
International
Copper Study Group (ICSG) has reported that the world copper markets
were in surplus of 70000 tonnes in January 2013. After making seasonal
adjustments the Copper markets was in production surplus of 25000
tonnes. Copper was in deficit of 60000 tonnes in the corresponding
period previous year. The agency has cited that the increase in surplus
has been due to reduction of apparent copper consumption in major
regions.
World mine production of copper in January was 1467000
tonnes, up almost 14 percent compared to 1290000 tonnes in January 2012.
Mine capacity utilization rates were 82.3 percent in the month of
January compared to 75.4 percent in the previous year. Major mine
production increases were noted in Chile by 10 percent and in US by 17
percent. Peru which is another major mine producer saw a decline of 4
percent in the mine production.
World refined copper production
increased by 1.6 percent to 1708000 tonnes compared to 1681000 tonnes in
January 2012. Primary copper production was up by 1.3 percent to
1420000 tonnes in January 2013 compared to 1402000 tonnes last year.
Chile which is the second largest producer of refined copper was down by
17.5 percent. China copper production increased by 7 percent in January
while a rise of 8.5 percent and 22 percent was noted in Japan and
Africa respectively.
Meanwhile, refined copper usage in World
markets declined by 6 percent to 1641000 tonnes in January 2013. The
major decline in copper usage was noted in China where consumption fell
by 6.8 percent. Chinese apparent net imports were down by 35 percent.
Excluding China world apparent usage of copper declined by 5 percent. On
a regional basis, usage is estimated to have declined by 10% in Africa,
by 3% in the Americas, by 6.5% in Asia and by 6% in Europe, while
apparent usage is estimated to have increased in Oceania by 20%.
Source by Commodity Insights
No comments:
Post a Comment