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Chinese Copper Demand To Remain Strong

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economy3May 25, 2010 (Chinavestor) Despite prices that have slumped in recent weeks, copper prices probably won't fall much further as China's demand for the industrial metal will remain strong through the end of 2010. Wanxiang Resources said Chinese copper demand may rise as much as 12% through the rest of 2010.

Copper Spot Price
copper_price_2010may
Source: London Metals Exchange

Demand, including refined and scrap copper, may climb to 8.96 million metric tons, Bloomberg News reported, citing Wanxiang Group, China's largest auto-parts maker.

Copper prices are intimately tied to expectations for growth in China's economy, but have fallen prey to Europe's sovereign debt crisis lately on concerns that Europe's woes will derail the global economic recovery.

China imported almost 1.1 million tons of copper through the end of April, according to customs data.



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