SHANGHAI, Apr. 22 (SMM) – The decline in copper prices will be arrested in the second quarter, but substantial rise is not expected, China Nonferrous Metals Industry Association (CNIA) forecast.
The CNIA expects China’s refined copper output to continue growing in the second quarter, and the consumption to increase as well during this high demand season.
“China’s ambitious power investment goal may herald robust copper demand from electric power sector, while demand from air conditioner industry will also improved after following destocking the first quarter,” the CNIA said in a report released on its website.
The improvement in consumption, combined with China’s stimulus measures aiming to bring down company’s financing costs, will allow copper prices to stabilize. However, the CNIA holds that any sharp price hike is unlikely considering pressure from China’s environmental protection efforts and China economic slowdown.
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