SHANGHAI, Feb. 29 (SMM) –Copper use growth in air conditioner & refrigeration, construction, and transportation industries is expected to become slower in 2012 than that in 2011. The power industry, though, will maintain some growths. Experts can analyze copper consumption trend for 2012 during the 7th China Copper & Aluminum Summit to be held in Shanghai during March 21-23.
The power industry is one of the major industries that bolster copper consumption. Analysis and Forecast on Economic Trend and Power Development 2012 Summit was held on February 26 in Beijing, a leader of China Electricity Council (CEC) predicted at the Summit that China's total investments in power projects will exceed RMB 730 billion during 2012, including RMB 350 billion in power source and RMB 380 billion in power grid.
This means total investments in power projects in 2012 will hold basically flat with the RMB 739.3 billion level in 2011. However, it's worth noticing that an estimation of around RMB 380 billion in power grid is 3.2% higher than RMB 368.2 billion in 2011. In power projects, large use of copper is mainly reflected in power grid construction. Therefore, from CEC's prediction, copper use in power projects during 2012 will continue to increase, but with a lower growth rate than the previous year.
Besides, the Ministry of Industry and Information Technology (MIIT) February 27 issued 12th Five-Year Development Plan for Electronic Information Manufacturing Industry, 12th Five-Year Development Plan for Solar Energy Photovoltaic Industry, and 12th Five-Year Development Plan for Integrated Circuit Industry. It's pointed out in 12th Five-Year Development Plan for Integrated Circuit Industry that the annual growth in sales revenues at Chinese enterprises above designated size will keep around 10% over the 12th Five-Year Plan period, surpassing RMB 10 trillion in 2015. Industrial added value will maintain an annual growth of above 12%, while sales revenues in the strategic emerging field of electronic information manufacturing industry will rise by 25% at an annual rate. It's put forward in 12th Five-Year Development Plan for Integrated Circuit Industry that, at the end of 12th Five-Year Plan period, industrial scale will more than double, key technologies and products will achieve enormous breakthroughs, structural adjustments will make prominent performance, and the industry chain will improve further. A group of internationally competitive companies will be formed, establishing technical innovation system that promotes the integration of production, teaching and research. It also indicates integrated circuit output will exceed 150 billion units, with sales revenues expected to amount to RMB 330 billion at a yearly growth rate of 18%. The electronic product industry is the major target for copper plate, sheet, strip and foil producers.
What's China's copper consumption trend in 2012? Whether or not Chinese copper consumption can provide some support to copper prices. Experts will present more at the 7th China Copper & Aluminum Summit.
Countdown to the China Copper & Aluminum Summit: 23 Days
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