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Global apparent refined Copper usage declines 3% during Jan-May

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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%.

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