Chinese Copper imports fall 9% during Jan-Nov; Production up 5 %: ICSG
LONDON (Scrap Register): Global apparent refined copper usage is estimated to have increased modestly by 0.6% during the first eleven months of 2017, according to the latest data released by the International Copper Study Group (ICSG).
Improved scrap supply constrained world refined copper usage growth globally last year. Preliminary data indicates that world ex-China usage increased by 0.3% while Chinese apparentusage (currently representingalmost 50% of world refined usage) increased by around 0.9%.
Chinese apparent copper usage (excluding changes in unreported stocks) increased by 0.9% as although refined copper production increased by 5%, net imports of refined copper declined by 9%.
Among other major copper using countries, usage increased in India and Japan but declined in the United States, Germany and South Korea.