CHINA May 07 2015 9:26 AM
LONDON (Scrap Register): Global demand for copper metal, which produced from refined copper and recycled from scrap copper, is projected to advance 4.2 percent per year through 2019 to 36.0 million metric tons, valued at $261 billion, as per latest study.
According to the latest research conducted by Freedonia Group, Robust gains in building construction expenditures are expected to boost the use of copper wire, tube, and other mill products in applications such as building wire and plumbing. Increased infrastructure investment, particularly in developing countries, will further benefit copper suppliers as updates to national power grids drive the production of wire and cable.
In addition, advances in global manufacturing output are expected to bolster the use of copper metal in transportation equipment, industrial machinery, domestic appliances, and other durable goods. Nevertheless, competition from alternative materials, such as plastic pipe in plumbing applications, will restrain faster overall growth, the Cleveland-based industry research firm added.
“China drives the global copper metal market, accounting for more than two-fifths of world demand in 2014, points out analyst Carolyn Zulandt. “The country’s massive building construction and electrical and electronic sectors consume huge volumes of copper.” Strong domestic output of motor vehicles, industrial machinery, and household appliances further boosts copper demand in China.