Scrapex Banner
Author: 16 Apr 2012 Last updated at 08:52:58 GMT

Chinese Copper demand to grow by 6.5% in 2012: Chile's Antofagasta

BEIJING (Scrap Monster): Antofagasta, the Chilean mining company, projects Chinese copper demand to grow by6.5% in 2012, while anticipating copper prices to remain volatile but ultimately justifiedat a high level.

Perhaps more bullish were the company's expectation that Chinese copper demand will grow, stated that they “don't see any way Chinese(copper) demand will be under 6.5%, and that's quite conservative. Most likely growth will ebb in the second part of the year... but the most important is real consumption, and we see that growing in China,” Antofagasta added.


Antofagasta, offered some firmly upbeat projections for 2012. The company stated that it sees refined copper market being in a 150Kt deficit in 2012, which compares to our forecast for a278Kt deficit.

“This compares to our forecast for Chinese refined demand growth of 6.3% in 2012. In terms of copper prices themselves, the company stated that “volatilitywill continue as news on renewed European problems appear and obviously hit copper prices... But we see that things have calmed somewhat...We still see a market that justifies high prices,” Barclays also stated about Chinese copper demand growth.

In terms of production expectations, the company stated that they forecast production to reach 700Kt in 2012 following 640Kt achieved in 2011. The ramp-up of their greenfield Esperanz a project will be key to achieving that, with some concerns that ore hardness may prevent the 80Kt y/y growth target for the year at the project.

METAL PRICE CHARTS

GET PRICE CHARTS

22ct Gold Scrap Price Charts

14ct Gold Scrap Price Charts

9ct Gold Scrap Price Charts

RELATED NEWS

Japanese Scrap Dealers urged to carry out stricter radiation checks

August 29th 2014 06:33 AM
Japanese Scrap Dealers urged to carry out stricter radiation checks
Following the detection of radiation quantity exceeding allowed limits at the South Korean port of Pusan

US Scrap exports declined 12% over the year in June '14

August 28th 2014 08:49 AM
US Scrap exports declined 12% over the year in June '14
The scrap exports by the US during the month of June this year declined considerably

City of Rotterdam to host 4th edition of Steel Scrap Conference

August 28th 2014 06:47 AM
City of Rotterdam to host 4th edition of Steel Scrap Conference
The Dutch city of Rotterdam will host the Fourth Annual Steel Scrap Conference from September 22nd to 23rd this year

Japanese H2 scrap prices rise further

August 28th 2014 04:58 AM
Japanese H2 scrap prices rise further
The average price of Japanese H2 scrap increased slightly during the fourth week of August
blog comments powered by Disqus
Next Story