CHINA PROCESSED COPPER CONSUMPTION MAY RISE 3-5% FROM 2011
Date: 26/3/2012
China's consumption of processed copper in 2012 is expected to rise 3-5% from 2011, as per China-based Antaike. Antaike, state-owned metals information provider, said that China consumed 10.563 million mt processed copper products in 2011, up 3% year-on-year.
Despite the expectation of a fall in GDP growth, Antaike predicted 3-5% growth in domestic processed copper consumption in the current year.
There isn't a direct relationship between refined copper consumption and that of processed copper, as copper processing plants don't rely 100% on refined copper for processing.
China State Council forecast GDP growth at 7.5% earlier this month, down from around 8%. China produced 10.281 million mt processed copper in 2011, up 4% from 2010. China imported 1.282 million mt processed copper in 2011, down around 10% from 2010.www.goldennifty.com
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