Market and product

NEW YORK (Commodity online): The International Copper and Zinc Study Group (ICZSG) have reported that world Copper markets were in a deficit of 80,000 tonnes in May while the production deficit of Jan-May 2010 stood at 162000 tons.

For Jan-May 2011,

-Total world mine production was 6.527 million tons in Q1, 2011 , up 1.6% from 6.421 million tons in Q1, 2010.

-World apparent usage rose a mere 1% to 8.04 million tons in Q1, 2011 from 7.95 million tons in Q1, 2010.Usage grew by 6% in Africa, in US the usage grew by 10% and 5.7% in Asia ex China. China apparent usage declined by 8% in Jan-May 2011 and maybe a cause of concern

-The refined production was 7.89 million tons in Q1 2011, up from 7.79 million tons in Q1 2010, a rise of 1.2%.

Production grew in:

-Australian --up by 46%,

- Chinese --up by 12%

-India --up by 6%.

Production declined in:

-United States of America -- 9%

-Japan – 17%

-Canada--26%