Relying on China to lift metals use
Source: Bloomberg News |
October 16, 2012, Tuesday
|
Print Edition
Print Edition
CHINA will support a "healthy" expansion in global demand for industrial metals even as European usage fails to match pre-financial crisis levels in the next several years, according to research company CRU.
China will consume about 45 percent of the world's copper by 2015 and 48 percent of all aluminum and nickel, Vanessa Davidson, group manager of copper and nickel teams at CRU, said yesterday at a London Metal Exchange conference. That compares with 13 percent for copper, 12 percent for aluminum and 6 percent for nickel in 2000, according to Davidson.
The global economic recovery will only be complete by mid-2014 and the eurozone will remain in a recession next year with "significant downside risk," Davidson said. CRU expects Europe will make up 18 percent of demand for copper in 2015, 15 percent for aluminum and 20 percent for nickel.
China's economy will expand 8.2 percent next year, compared with global growth of 3.6 percent, the International Monetary Fund estimates. The LME Index of six industrial metals slumped 23 percent since February 2011.
China will consume about 45 percent of the world's copper by 2015 and 48 percent of all aluminum and nickel, Vanessa Davidson, group manager of copper and nickel teams at CRU, said yesterday at a London Metal Exchange conference. That compares with 13 percent for copper, 12 percent for aluminum and 6 percent for nickel in 2000, according to Davidson.
The global economic recovery will only be complete by mid-2014 and the eurozone will remain in a recession next year with "significant downside risk," Davidson said. CRU expects Europe will make up 18 percent of demand for copper in 2015, 15 percent for aluminum and 20 percent for nickel.
China's economy will expand 8.2 percent next year, compared with global growth of 3.6 percent, the International Monetary Fund estimates. The LME Index of six industrial metals slumped 23 percent since February 2011.
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