Europe Copper Demand Up, But Recovery Not Widespread - ICSG

ISTANBUL, Mar 11, 2011 (Dow Jones Commodities News via Comtex) --  European demand for refined copper increased in 2010 from the previous year but many countries in the region still aren't showing a recovery in consumption levels, an executive at the International Copper Study Group said Friday.

Germany, Italy, Belgium, Scandinavia and Spain are seeing a recovery in apparent refined copper usage, Carlos Risopatron, ICSG's head of environment and economics, said, but countries like Greece and France are in negative territory. Portugal, Norway, Denmark and the U.K. are seeing more or less flat demand, he told the Metal Bulletin conference in Istanbul.

Risopatron said total refined copper usage in Europe in the first nine months of 2010 was around 2.35 million tons, up from around 2.10 million tons in the same period the year before.

Around 10 countries globally reported a contraction in demand, with France seeing the largest decline at around 59,100 tons. Korea followed with a decline of 33,900 tons. Total refined copper demand in the first 10 months of 2010 fell by 128,000 tons from the same period the year before, Risopatron told delegates.

Around 20 other countries saw slow refined copper demand growth in the same period, by a total 75,400 tons. The biggest growth came in Egypt with 13,200 tons.

For the 15 countries with growth of over 14,000 tons in the same 10-month period, refined copper usage rose by 1.97 million tons on the year-earlier period. China led the way with growth of around 215.100 tons, followed by Japan with 171,100 tons and Germany with 155,400 tons.