Development trend of the copper market BSCRM P copper market development trend, the publication reported British metals consultancy bloom bliss mineral economy (
Recently released a report pointed out that in the first half of this year global refined market consumption more than production of 100000 tons.
But in the third quarter of this year as the market into the off-season, corresponding slowing demand.
50000 tons, 10000 tons less than in the first half of this year predicted the amount of deficit.
Of refined copper consumption than originally predicted an increase of 60000 tons, but influenced by producers dispute, global refined copper production than originally expected cut 110000 tons and 220000 tons of copper production is expected to cut.
BME, meanwhile, have increased the original prediction of secondary copper production by 160000 tons.
The main reason is that China is expected to import scrap copper can be increased by 4%, the corresponding recycled copper output increase this year.
50000 tons, while refined copper consumption remains unchanged.
50000 tons, slightly higher than the forecast in May this year, 440000 tons of excess capacity, the main reason is renewable copper output growth.
The other, according to a report in the journal, America's main copper producer Michael Phelps?
Dodge company recently also predicted, considering of consumption and production situation of the United States, Europe and Asia, the world copper market will moderate shortages in 2006.
Especially as China, India, eastern Europe and southeast Asia continued strong growth in demand, in the next few years the international copper market is still bullish on, and is similar to the last century 50 s and 60 s growth.
But in the next few years the global lack of new copper project completed and put into production, while demand continues to grow, inevitably, the risk of the market supply shortages.
Especially the world copper stocks continue to drop below historic levels, which will support the international copper prices high.
The metal exchange inventory consumption has fallen to less than one week.
Especially with China's sustained and rapid development of economy and industrial production, the main consumer sector such as copper power generation equipment, electric car production will increase.
And the company believes that the outside world copper concentrate, copper scrap, and exchange in 2006 cathode copper inventories declined obviously.
Despite China's demand growth, but the cathode copper and copper scrap import tends to decline.
Although China's refined copper production increase, but in view of the raw materials, refined copper and some of the final product inventories declined obviously, therefore from the end of last year China's strategic reserve has sold nearly 100000 tons of copper to the domestic and foreign market.
At the same time, the United States since 2006 copper consumption also further growth.
Although residential building momentum has slowed over the past year, but the non-residential building momentum is strong.
Especially since this year U. S. industrial production has increased more than 4%.
For the copper products market demand growth is better than originally expected.
Thus make deliveries this year rose 5%.
5%, lower than the original expected Numbers, therefore a large amount of copper scrap supply brass industry.
And the European and Japanese copper market demand is better than originally expected.
Europe this year than last year's industrial production growth of 5%, while copper consumption growth rate can be up to 5 ~ 7%.
Although almost all global copper producers start at full capacity, but due to some manufacturers dispute strike and a decline in copper grade, therefore yield decreased this year.