Copper market 2010 deficit up to 305,000 Tonnes ICSG

LONDON: World refined copper consumption exceeded production by 305,000 tonnes last year, compared with a 175,000 tonne surplus the year before, the International Copper Study Group said in its latest monthly bulletin.

The Lisbon based ICSG said stronger than anticipated refined copper usage, which grew by 1.3 million tonnes, coupled with a smaller than anticipated growth in supply of 770,000 tonnes pushed the market into deficit.