CHINA November 25 2016 9:15 AM
LONDON (Scrap Register): Global apparent refined copper usage is estimated to have increased by around 3.8% to 570,000 tons during the first eight months of this year as compared to the same period of 2015 mainly due to increases in China, according to the International Copper Study Group.
Chinese apparent demand increased by around 7.5% compared with the same period of 2015 based on an 8% increase in net imports of refined copper. However July and August net refined copper imports at 176,000 t and 175, 000t respectively were the lowest since April 2013 and compares to a net monthly imports average of 312,000 t in the first ha lf of 2016.
Aggregated usage in the EU, Japan and the United States remained essentially unchanged. On a regional basis, usage is estimated to have increased by 2.5% in Europe and 6% in Asia (when excluding China, Asia usage increased by 1.5%), while declining by 11% and 4.5% in Africa and in the Americas respectively and remaining essentially unchanged in Oceania.