China could face Copper products supply surplus by 2015: CNFA
Metal Recycling News | 2012-06-29 09:18:06
China could face a copper products supply surplus by 2015 as over 3 million metric tons per year of new capacity was set to come online during the 2011-15 period, said China Nonferrous Metals Fabrication Industrial Association (CNFA) in a briefing.
By Paul Ploumis
BEIJING (Scrap Monster): China could face a copper products supply surplus by 2015 as over 3 million metric tons per year of new capacity was set to come online during the 2011-15 period, said China Nonferrous Metals Fabrication Industrial Association (CNFA) in a briefing.
According to CNFA data, country's copper products output rose by 10% year-on-year to 4.33 million metric tons in the first five months of this year. Zhejiang, Jiangsu, Anhui and Jiangxi provinces accounted for the bulk of the January-May production.
China produced 10.28 million metric tons of copper products last year, up 18% from 2010. As of end-2011, country's domestic copper products processing capacity was 12 million metric tons per year.
China's 2012 domestic output of copper products is expected to rise 10 to15% from last year, less than the 18% growth seen last year, Beijing Antaike, the state-run metals research company said in Beijing on Thursday.
It attributed the slower output this year to weak demand expected from key downstream consuming sectors.
