China’s Copper demand grows by 6.5 MMT during 2008-2017
SHANGHAI (Scrap Register): Chinese copper demand grew by about 6.5 million mt over the 10-year period, accounting for 50% of the world's usage in 2017 compared with 29% in 2008, according to International Copper Study Group.
The apparent usage of refined copper increased by 33% over 2008-2017 to 23.8 million mt due to rise in Chinese demand, which more than doubled.
The world usage excluding China decreased by 5.5% during the period, mainly due to a decline in refined usage in three of the major copper using regions: the European Union, which fell -15%, Japan, which declined -16%, and the US, which was 11% down.
However, usage increased significantly in the Middle East/North Africa region, rising 83%, and in the Asia, ex-China/Japan, region, up 25%, ICSG analysts said.