2009 May Cu Apparent Consumption Data Analysis

SHANGHAI, Jun. 26 (SMM) --
Refined Copper:
China's apparent consumption of refined copper was 668.8kt during May, up 65.81% YoY.  YTD apparent consumption was 3 million mt, up 44.45% YoY. Apparent consumption of refined copper experienced significant YoY growth, due mainly to increases in domestic output of copper semis and from the use of refined copper as a substitute for scrap copper. As domestic scrap copper has gradually lost its price advantages over the past several months, consumers have been using more refined copper instead.
Copper Semis:
China's apparent consumption of copper semis was 877kt during May, up 18.92% YoY.  YTD apparent consumption was 3.57 million mt, up 5.29% YoY. The cumulative apparent consumption of copper semis has been growing gradually since domestic copper output increased significantly from March to May. Domestic apparent consumption of copper semis is expected to fall slightly during July and August in view of the seasonal low demand period.

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