SHANGHAI, Nov. 11 (SMM) – China’s copper consumption grew by 2.8 per cent in 2016, high than market expectation, SMM copper analyst said at SMM 2016 China Metals Summit (CMS) in Shanghai from Nov. 10-11.
In 2016, the power sector, one of major copper consumers in China, staged a strong performance thanks to rapid growth in power grid investment as showed in SMM monthly survey of wire and cable producers, and stimulus policies for PV, SMM copper analyst told attendees at the summit.
But, the growth of power grid investment is expected to fall in 2017, SMM added.
The destocking in real estate market will likely come to an end in 2017, and SMM takes no optimistic outlook for investment and growth of completed area in the real estate sector.
In the automobile market, production and sales are growing rapidly due to positive policies.
“China’s copper consumption growth, after a better-than-expected performance in 2016, will drop slightly to 2.55 per cent in 2017, and then rebound in 2018,” SMM predicted at the summit.