Dec. 27 (Bloomberg) -- The global copper market is estimated to have a 550,000-metric ton deficit next year as falling stockpiles push prices to $5 a pound, Macquarie Bank Ltd. said in a research report today.

The forecast was based on an assumption of 4 percent mine supply disruption, or 720,000 tons, with global stocks falling to below three weeks of world consumption, according to the report. It also excluded material that may be held by exchange- traded products launched by BlackRock Inc. and JPMorgan Chase & Co., it said.

The final 2011 copper deficit could be bigger as the bank believes the Securities and Exchange Commission will approve the introduction of the ETF products, said Macquarie.

--Helen Sun. Editors: Richard Dobson, Matthew Oakley.

To contact the Bloomberg News staff on this story: Helen Sun in Shanghai at hsun30@bloomberg.net

To contact the editor responsible for this story: Richard Dobson at Rdobson4@bloomberg.net