SHANGHAI, Dec. 28 (SMM) --
China's apparent consumption of refined copper was 604.3 kt in November, up 23.62% YoY and up 9.83% MoM. The increase in apparent consumption during November was mainly attributed to soaring output of domestic refined copper during Q4 (output of refined copper hit a new high in November), and increased volumes of imported copper. January to November YTD apparent consumption of refined copper was up 42.70%, and is showing signs of strong upward momentum.
China's apparent consumption of copper semis was 919.7 kt in November, up 24.75% YoY and up 3.75% MoM. China's apparent consumption of copper semis continued to remain high during November due to MoM output growth of domestic copper semis, which were up significantly from 2008. Operating rates began to decline slightly at some producers toward the end of the year, but output of copper semis is expected to remain high in December, influenced by the positive output of copper semis during the second half of this year.
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