Global Refined Copper usage increases during Jan-July
NEW YORK (Scrap Register): Global apparent refined copper usage is estimated to have increased by about 1.3% in the first seven months of 2018, according to the International Copper Study Group.
China was the biggest contributor to growth with apparent usage (excluding changes in unreported stocks) increasing by 4%, driven by a 20% increase in net refined copper imports as Chinese customs have temporarily suspended the publicationof copper trade data since March, exports are calculated based on reversed trade and are likely to be revised.
Preliminary data indicates that world ex-China usage declined by 1%. Among other major copper using countries, demand increased in India, Japan and the EU but declined in Taiwan, South Koreaand the United States.