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LONDON (Scrap Monster): China apparent copper consumption advanced by by 905 kilo tons to 4414 kilo tons in the first six months of this year which represented just over 43% of global demand, as per latest data released by World Bureau of Metal Statistics (WBMS).

According to WBMS data, EU27 apparent copper demand dropped 8.4% year-on-year to 1595.2 kilo tons in the same period.

The copper market recorded a deficit of 129 kt in January to June 2012 which follows a surplus of 433 kt in the whole of 2011.

Reported stocks rose by 3.4 kt during June and ended the month 163 kt lower than at the end of 2011. No allowance is made in the consumption calculation for unreported stock changes, particularly in the Chinese government stockpile

Global copper mine production in January to June was 8.23 million tonnes which was 3.2 per cent higher than in the same period in 2011.

Global refined production rose to 10.1 million tonnes up 3.1per cent with significant increases recorded for Spain (56.8 kt), Iran (11.8 kt) and India (20.7 kt).Chilean output fell by 70.0 kt.

Global consumption for January to June 2012 was 10201 kt, the figure for the 2011 calendar year was 19465 kt.

In June 2012, refined copper production was 1709.0 kt and consumption was 1693.5 kt.