UNITED KINGDOM May 30 2017 6:01 PM

LONDON (Scrap Register): Global apparent refined copper usage is estimated to have declined by around 3% in the first two months of this year, according to the latest data released by the International Copper Study Group (ICSG).

ICSG preliminary data indicates that although world ex-China usage might have grown by around 2.5%, growth was more than offset by a 9.5% decline in Chinese apparent demand.

Chinese apparent demand (excluding changes in unreported stocks) declined by 9.5% because although refined copper production increase by 4%, net imports of refined copper declined by 29%.

Some countries in Asia and in Europe saw growth. On a regional basis, usage is estimated to have increased by 1.5% in Europe while declining by 1% in the Americas and 5% in Asia (when excluding China, Asia usage increased by 6%).