Global apparent refined Copper usage declines 3% during Jan-May
LONDON (Scrap Register): Global apparent refined usage of copper is estimated to have declined by around 3% in the first five months of 2017, according to latest data released by the International Copper Study Group (ICSG).
Preliminary data indicates that although world ex-China usage might have grown slightly by around 0.5% this growth was more than offset by a 5.5% decline in Chinese apparent demand.
Chinese apparent demand (excluding changes in unreported stocks) declined by 5.5% because although refined copper production increased by 6.5%, net impor ts of refined copper declined by 30%.
Among other major copper using countries, usage increased in India and Japan but declined in the United States and Germany.
On a regional basis, usage is estimated to have declined in all regions: in Africa by 3%, in Asia by 3% (when excluding China, Asia usage increased by 4.5%), in the Americas by 0.5% and in Europe by 5%.