Hong Kong — China's consumption of refined copper and aluminum is expected to peak in 2022-2025 at 13 million-15 million mt/year and 27 million-29 million mt/year, respectively, and then remain at high levels, the China Mining Association said Tuesday.
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China's consumption of refined lead is expected to hit peak levels of 6.8 million-7 million mt/year around 2022 and refined zinc consumption to peak at 7.7 million-7.9 million mt/year around the same year.
China's steel demand is expected peak by 2030, the report said.
It pointed to rising wealth, which is spurring urbanization and infrastructure growth and boosting demand for metals.
The report said that except for steel and cement, demand for many mine products such as copper, aluminum, lead and zinc, nickel, tin and antimony is still growing slowly.
The association expects demand for the products to peak and then stay at high levels for at least 10-15 years.