Thanks for the nunbers CPDLC and I agree with your 'buy...

Thanks for the nunbers CPDLC and I agree with your 'buy sentiment'.

I saw this article this morning, which gives further credence to the Copper supply being in a tight balance.

All great for DML and its future production.



LONDON, Sept 17 (Reuters) - The global copper market was in a deficit of 153,000 tonnes in the January to July period, having been in surplus in previous months, the World Bureau of Metal Statistics said.

That figure compared with a deficit of 100,000 tonnes in the same period in 2008, the British-based consultancy said in its monthly report.

World copper mine production in the January to July period was 9.05 million tonnes, which was 1.8 percent higher than in the same months of 2008.

Refined production fell 0.5 percent over the same period to 10.6 million tonnes, while consumption was fractionally lower at 10.78 million tonnes.

"Chinese apparent consumption increased to 4,293 kt from 2,926 kt in the previous year," the report said.

"However, this increase may mask a build-up of unreported stocks since the output of semi-manufactures was reported to be only 14.3 percent higher than last year," it added.

Aluminium was in surplus by 1.106 million tonnes, which compares with a surplus of 527,000 tonnes in the same period last year, while the lead market was in a surplus of 35,000 tonnes versus a 35,000 tonnes deficit a year earlier.

Zinc outpaced use by 134,000 tonnes and the nickel and tin markets recorded a surplus of 1,700 tonnes and 8,900 tonnes respectively, according to WBMS. (Reporting by Karen Norton; edited by Sue Thomas)

http://communities.thomsonreuters.com/BaseMetals/427117?utm_source=20090917&utm_medium=bmemail