China's refined copper imports to drop nearly 15 percent in 2019
In 2019, China will import about 3.2 million tonnes of refined copper, up from 3.753 million tonnes last year, 2018, said Yang Changhua, chief copper analyst at Antaike, the research department of the China Nonferrous Industry Association. metals, at its presentation in Beijing.
By 2020, Yang estimates that refined copper imports will decline another 6.3 percent to 3 million tonnes as China's copper smelting capacity continues to expand this year and next.
In China “it is estimated that production (of refined copper) in 2019 will reach 8.85 million tonnes, an increase of 4.8 percent. Consumption growth will slow from 4 percent last year to 3 percent, ”Young said.
With consumption of copper concentrate in China is projected to rise by 7.2 percent this year, its dependence on overseas supplies will increase to 5.15 million tonnes based on copper, up from 4.74 million tons a year earlier.