Global copper mart records 2,77,000 tonne surplus

The world copper market recorded a surplus of 277,000 tonne in 2006, while aluminium, zinc, nickel, lead and tin were in deficit, the World Bureau of Metal Statistics said late Wednesday.

However, surplus of the red metal had shrunk significantly in December from a month earlier. World Jan-Nov copper market surplus was 353,000 tonne, the metal bureau said.

Copper mine production was 15.2 million tonne last year, marginally higher than 2005, as supply disruptions in Mexico and Indonesia in mid 2006 lowered output. Refined copper production was 17.41 million tonne, up 4.8 per cent from 2005. China's copper output in 2006 rose by 399,000 tonne, while output in India, Zambia and Japan rose 136,000 tonne, 46,000 tonne and 137,000 tonne respectively compared with a year earlier.

In 2006, world copper consumption rose 2.2 per cent year-on-year to 17.1 million tonne.Consumption in China fell by 1.3 per cent, while European demand rose 10.2 per cent during the period under review. In December, world refined copper production was 1.48 million tonne, while demand was 1.43 million tonne.

World nickel market recorded a deficit of 50,000 tonne in 2006, the report said.

Nickel mine production was 1.40 million, up 4.5 per cent from 2005. Refined nickel output rose 2.4 per cent from a year earlier.

In December, world nickel production was 120,600 tonne, while demand was 127,400 tonne, the bureau said.

In 2006, world primary aluminium market saw a deficit 600,000 tonne.Global aluminium production in December was 2.99 million tonne, while consumption was at 2.97 million tonne.

Global zinc market in 2006 saw a deficit of 194,000 tonne. In December, world slab zinc production was 955,000 tonne, while demand was 933,000 tonne. Global lead market recorded a deficit of 88,000 tonne in 2006. In December, world refined lead production was 713,000 tonne, while demand was 715,000 tonne, the report said.

In 2006, global tin market saw a deficit of 3,600 tonne. In December, global refined tin production was 32,000 tonne, while demand was 30,500 tonne.