Deficiency of copper in China, which remains the world's most significant consumer of copper, this year will reach 2.25 million tons, Chinese analysts say. Despite increasing its own production in the provinces of Zhejiang and Jiangsu and the growing volume of purchases of the metal, in 2011 the deficit of copper in China will only increase, and will be, according to preliminary estimates, about 2.44 million tons. According to official figures, real consumption of copper in China will increase approximately 0.54 million tonnes in 2011 (up to 7.34 million tons). All of this suggests that China will continue to play the role of driver for the world copper prices, and thus — in the foreseeable future they will only grow.
9 November 2010
Copper prices will rise
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