Results 1 to 2 of 2
  1. #1
    Banned

    China Copper Products Apparent Consumption Data Analysis in May 2013 !!!

    SHANGHAI, Jul. 2 (SMM) –

    Refined Copper
    China's refined copper apparent consumption in May was 784,800 mt, up 14.8% YoY and 10.36% MoM. During May, output and imports of refined copper were both up, but exports were down sharply to a yearly low of 14,400 mt. The SHFE/LME copper price ratio continued to improve during May, encouraging imports from bonded areas and reducing deliveries to LME Asian warehouses. The increases in apparent consumption of refined copper did not result in rising copper inventories, however, since stocks both at bonded areas and SHFE were down, a reflection that real consumption was better that apparent consumption during May.

    Copper Semis
    Copper semis apparent consumption was 1.24 million mt in May, up 23.67% YoY and 5.1% MoM. During May, domestic copper semis output climbed above 1.2 million mt and imports reached up to 63,500 mt, the highest single monthly import volume since April 2012. The significant increase in imported copper semis was driven by improvements in the price ratio and rising downstream demand. A recent SMM survey of major domestic copper semis producers revealed an average operating rate of 76.36% during May, the highest monthly average of the year. However, since operating rates at copper tube/pipe, plate, sheet, strip and foil producers were down in June, apparent consumption of copper semis should fall from May’s high level.

  2. #2
    Solid Member
    Quote Originally Posted by chinametalsinfo View Post
    SHANGHAI, Jul. 2 (SMM) –

    Refined Copper
    China's refined copper apparent consumption in May was 784,800 mt, up 14.8% YoY and 10.36% MoM. During May, output and imports of refined copper were both up, but exports were down sharply to a yearly low of 14,400 mt. The SHFE/LME copper price ratio continued to improve during May, encouraging imports from bonded areas and reducing deliveries to LME Asian warehouses. The increases in apparent consumption of refined copper did not result in rising copper inventories, however, since stocks both at bonded areas and SHFE were down, a reflection that real consumption was better that apparent consumption during May.

    Copper Semis
    Copper semis apparent consumption was 1.24 million mt in May, up 23.67% YoY and 5.1% MoM. During May, domestic copper semis output climbed above 1.2 million mt and imports reached up to 63,500 mt, the highest single monthly import volume since April 2012. The significant increase in imported copper semis was driven by improvements in the price ratio and rising downstream demand. A recent SMM survey of major domestic copper semis producers revealed an average operating rate of 76.36% during May, the highest monthly average of the year. However, since operating rates at copper tube/pipe, plate, sheet, strip and foil producers were down in June, apparent consumption of copper semis should fall from May’s high level.
    China Copper consumption is one of the very indicative indexes of the China Economy Growth. If the Copper Consumption is increasing that is a sign there is no slowing down in the China economy, but as all the data coming from China, that one too could be manipulated and not exactly right. Last week there were some not confirmed statements that there was a liquidity crisis in the China Bank system, again totally denied from the official China government authorities. I think China is not in a very bad shape, but the risks of an economic decline are increasing every day and if it happens all the world markets will react immediately on this.

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
3