Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

In this list
Metals

China copper deficit of 2.65 mil mt in 2019: consultancy

Agriculture | Crude Oil | Refined Products | Olefins

Market Movers Asia Feb 22-26: US cold snap impacts Asian oil, petchem markets

Energy Transition

Platts Global Integrated Energy Model

Oil | Crude Oil | Coronavirus | Energy Transition | Macroeconomics

37th Asia Pacific Petroleum (APPEC 2021)

Electric Power | Nuclear | Oil | Crude Oil | Metals

Iran wants US to remove sanctions before nuclear talks to clear more crude

Metals | Raw Materials | Corporates

Adding value to iron ore, at a cost: Australia’s magnetite curse strikes again

China copper deficit of 2.65 mil mt in 2019: consultancy

Tokyo — China will produce 8.85 million mt of copper in 2019, up 4.8% on the year, while demand is seen up 3% at 11.5 million, generating a deficit of 2.65 million mt which will be covered by imports, consultancy Beijing Antaike Information forecast.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

China will use 7.37 million mt of copper concentrate for production, while usage of scrap is seen at 1.48 million mt, Antaike said. The scrap volume is down from 1.58 million mt in 2018 on tighter supply caused by scrap import restrictions since last year.

Of the 7.37 million mt of primary feedstock, around 76% will be imports. Chinese imports of copper concentrate are forecast to rise by 6% in 2019, with domestic concentrate up by 3%.

The increase in local and imported concentrate supply will support the 4.8% growth in production. China will import less refined copper cathode, Antaike said, forecasting imports of 2.9 million mt this year, down from 3.4 million mt.

Antaike's forecast shows Chinese demand slowing. The 2019 demand growth forecast of 3% compares with 3.8% for 2018, and 4.2% in 2017.

-- Mayumi Watanabe, mayumi.watanabe@spglobal.com

-- Joshua Leung, newsdesk@spglobal.com

-- Edited by James Burgess, newsdesk@spglobal.com