World apparent refined usage is estimated to have increased by about 3% in the first nine months of 2018: ICSG world refined copper usage for the first nine months of the year has been revised upwards based on new data available for China and the United States. Chinese apparent usage was revised upwards as actual Chinese refined copper trade data again became available and indicated higher imports than previously estimated (since March, China Customs had suspended the publication of detailed copper trade data and ICSG had used an estimate based on reverse trade). Chinese apparent usage grew by 7% driven by a 22% increase in net refined copper imports. It is possible this development was influenced by a tightness in the availability of scrap in China. United States usage was also revised upwards based on new data published by the USGS, showing now a growth of around 1%. Among other major copper users, demand increased in India, Japan and the EU but declined in Taiwan (China) and South Korea. Preliminary data indicates that world ex-China usage declined by 0.5%.
Updated On 09-Jan-2019
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