SMM News: may 2020, the International Copper Association China copper demand climate index of 106.9, down 15% from last month. The May index is distributed above the "hot" limit (104.2), indicating that the demand for copper in China is more exuberant in May, which is in the "hot" range. China's copper demand climate index reflects the current copper consumption boom, because the absolute volume of the index is treated as a month-on-month rate of change, so the climate index indicates the degree of prosperity of the month relative to the previous month.
After adjusting for seasonal factors, 65% of the 52 macro and copper terminal industry indicators included in this index showed positive growth, including the capacity of new hydropower generation equipment in the power industry and the completion of basic investment in power grid construction. it increased by 41% and 33% respectively in the same month. Fixed asset investment in coastal construction in the transportation industry increased by 28% in the same month compared with the previous month, and these changes made China's copper demand boom index "hot" in May. In April, 69% of the indicators showed positive growth, and the average month-on-month growth rate of the positive growth index was 15%, while the average month-on-month growth rate of the 65% positive growth index in May was only 11%, resulting in a lower copper demand index in May than in April. On the other hand, only 31% of the indicators showed positive growth in May 2019, and China's copper demand index in May 2020 was higher than the same period last year.
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