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China's refined copper consumption expected to rise 4%-5% on year in 2015

https://www.chemnet.com   May 22,2015 Platts
China's refined copper consumption is expected to see a 4%-5% year-on-year increase in 2015, Shen Haihua, senior portfolio manager of HFZ Capital Management told Platts on the sidelines of the LME Week Asia Seminar in Hong Kong late Wednesday, May 20.

According to figures released by state-owned nonferrous metals information provider Beijing Antaike, refined copper consumption for 2014 totaled 8.72 million mt, up 6.3% compared with the 2013 level.

"I am not worried about the overall copper consumption in China this year, supported by stable demand in China," Shen said.

But demand may slow down starting from the fourth quarter of this year and early next year, he added.
"Copper stock levels are down in China but prices [are] staying weak. I expect copper prices will continue to be affected by Chinese consumption as well as the macroeconomic environment," Shen said.

Refined copper is commonly consumed by the power, construction, air-conditioning and transport sectors.

HFZ Capital Management invests in commodities futures and stocks.

The company manages the Hong Feng Zheng Fund which seeks to generate returns through arbitrage and relative value opportunities within the metals sector.

HFZ Capital Management is a joint venture between Red Kite Management and Maike Metals International, one of China's largest metals and mining groups.
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