The State Grid Corporation of China's focus on investing in ultra-high voltage projects will also see the company using more aluminium, Wang said. Industry data provider SMM forecast a 216 000-t surplus in the global copper concentrate market this year to reduce to 107 000 t in 2024, and switch to a deficit of 150 000 tonnes in 2025.Īs smelting capacity in top copper consumer China surges, refined copper imports will fall to around 150 000 tonnes a month by the middle of this decade, from 300 000 tonnes now, Lang said.Ĭhina's share of copper demand growth will fall, Lang said.ĭownstream copper users' operating rate in China this year has not been strong enough to support prices, said Yanchen Wang, managing director at SMM UK.
0 kommentar(er)
