China June Cu Apparent Consumption Data Analysis

SHANGHAI, July 26 (SMM) -

Refined Copper
China’s apparent consumption of refined copper during June was 632.1 kt, down 10.70% YoY.  The drop in apparent consumption of refined copper was due largely to falling imports of refined copper in June, but the decline in imports was offset by domestic supply.  In addition, the availability of scrap copper from stabilizing copper prices eased supply tightness of refined copper, resulting in no supply shortages of refined copper.

Copper Semis
China’s apparent consumption of copper semis was 1.04 million mt in June, up 42.5 kt from May levels of 1.001 million mt, and up 10.97% YoY.  The rapid growth of copper semis apparent consumption is a sign that China’s demand for copper semis will remain strong for the remainder of 2010.  However, lower operating rates at copper semis producers beginning in July will result in lower apparent consumption of copper semis when compared to June levels.

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