Jun 11, 2018
As the world's biggest copper consumer market, China's consumption of about 50% of the copper resources around the world.
A figures released by the customs recently caused a lot of attention.Data show, China's imports of 1601311 tons of copper ore and concentrate, march fell 1.6%.Among them, the third consecutive month Peru beyond Chile, to become China's largest copper imports, imports of 462012 tons, down 7.53% year on year.In our country since march Chilean copper imports of 389314 tons, increased 0.74% year-on-year.
Demand side: China and new energy to form a solid support
"We think the market has digested the news of copper supply more than expected, prices fell in the first quarter has depth, the late should focus on the terminal consumption of price support."Guotai junan futures are expected, copper output in Chile, in 2017 the world's major mining enterprises significantly increase profits and promote the existing mine expanded reproduction and the new mine production, the main national economic data still shine, the terminal consumption industry as a whole to improve the support of good, such as global copper production to restore growth in 2018, up 3.5% from a year earlier, in 2017 fell 1.7% year on year.
BMI commodities analyst at Molly schutt, according to the output of the international copper market growth in 2018 will be supported by the new mines to begin operations, and the international market demand increase will keep markets nervous."Internationally, China will continue to be one of the largest importer of copper ore.We expect the country's production of refined copper to achieve steady growth in 2018, this means that the copper ore imports will continue to increase."She stressed.
In addition, BMI is expected the United States and the European Union and other developed markets and emerging markets such as Brazil's refined copper production will increase.This is due to rising prices, these countries are one of the world's biggest importer of copper.In addition, she points out that, since the second half of last year the electric car production market further rising prices in China driven by the strong demand for copper."More copper used in electric vehicles, engines, compared with traditional internal combustion engine using will lead to global supply, price support in the coming years."She said.
BMI copper balance global market is expected to strong growth in demand and forecast this year on the basis of the average price of $7000 / ton remain nervous.
The supply side, Africa and South America after a spate of new projects
Market Research firm BMI Research (BMI) in the copper market study, released in March is expected in the global industry overview, positive growth in the next African copper industry.In addition, as prices continue to rise, the African copper mining project development will be recovered.In Congo (gold), Botswana, namibia and South Africa, new copper project is under way, this shows that the copper mining industry will continue to grow in Africa.Copper industry is expected to average annual growth rate of 3.6%.
Despite the volatile political situation in South America is the exploration of "predators", but still could not prevent the enthusiasm of the capital.
According to Reuters news, Anglo American or will set up a new large copper mine in Peru.Anglo American director Hennie Faul said the company is expected to be in the middle of the year submitted to the board Quellaveco copper project, will also determine the partners and cost issues.Ecuador has become the world's copper exploration in new destinations.According to bloomberg news, the past few months, including BHP billiton, Fortescue Metals Group Ltd, Newcrest Mining Ltd., some of the world's biggest manufacturers have set up offices in the country.Ecuador is currently developing the country's first large copper mine, the mine is expected to formally put into production in 2019.Ecuador's mining minister Rebeca Illescas4 26, said the government plans to this year in Ecuador to open 1.25% of the land used for exploration, mining investment stimulus Ecuador.
