Copper becomes precious

The production of copper in the world in January - July was lower than demand for 524 thousand tons, in comparison with a shortage of 73 thousand tons last year. Thus, the deficiency of this metal increased more than 7 times, concludes the International Copper Study Group (ICSG).

The production of purified copper amounted to 1 million 632 thousand tons in July, while consumption reached 1 million 655 thousand tons. Deficiency of 23 thousand tons.

The world production of copper in January - July 2012 amounted to 11 million 448 thousand tons against 11 million 198 thousand tons in 2011. The growth of copper production in the world amounted to more than 2%. Demand at the same time increased by 6% to 11 million 971 thousand tons.

The production of purified copper in the Democratic Republic of the Congo (by 31%), in Japan (by 17%) and in China (by 9.5%) has grown most of all.

The United States and Chiles reduced copper production by 5%, and in the Philippines, in connection with the fire in the processing production, by 86%.

There is a steady increase in copper prices and coting on the London metals exchange (LME). So in September 2012, the price of one ton of copper on this site rose to $ 8086 against 7492 in August.

Mop reserves on world exchanges at the end of September amounted to 341 thousand 711 tons, which is 112 thousand 900 tons less than at the end of 2011.







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