China's refined copper gap in 2011 may reach 2.44 million tons

Yang Changhua, a senior analyst with state-owned consulting firm Antaike, predicts that China's refining copper gap may reach 2.44 million tons next year, which is higher than the estimated 2.25 million tons this year. China is the world’s largest copper consumer.

Yang Changhua said that China's real consumption of refined copper in 2011 increased by 8%, about 540,000 tons, reaching 7.43 million tons; domestic refined copper production will increase by 7.7%, or about 350,000 tons, to 4.9 million tons.

In 2011, China's annual consumption growth was expected to be lower than the 11.5% forecast for this year. As high prices weighed on demand, and the appreciation of renminbi weakened export prospects, Yang Changhua took part in the first industry conference held in Ningbo, Zhejiang Province. Say this in the interview.

Yang Changhua said, "The demand growth of the air-conditioning industry next year will not be comparable to this year, reaching a good level," and said that in 2010 the industry's demand for refined copper increased by 24% to about 99 million tons.

Air-conditioning manufacturing industry is China's second largest consumer of copper, second only to the power industry, and the electricity industry's demand for refined copper this year may reach 3.14 million tons. Yang Changhua said that demand from the electricity sector will increase next year.