Chinese information company Antaike announced that Beijing metallurgists' plans for 2019 include the production of 8.85 million tons of copper. Productivity will increase by 4.8% compared to last year, but this will not cover the demand, which will grow by 3% and reach 11.5 million tons. Thus, the Chinese deficit in this metal will amount to 2.65 million tons. It will be satisfied by import supplies of copper.
The cost of copper concentrate for copper production is estimated at 7.37 million tonnes. Scrap will also be used. It is expected to be slightly less than last year - 1.48 million tonnes compared to 1.58 million tonnes in 2018. The fact is that restrictions and stricter delivery conditions have been introduced on its import into the country.
Of the 7.37 tons of primary raw materials, 76% of China will also have to purchase abroad for copper production. Thus, the country will increase imports of concentrate for copper production by 6% in 2019. 3% more concentrate from our own mines will be used.
The total amount of concentrate will allow Beijing to increase copper production by 4.8%.
Chinese manufacturers in 2019 will reduce consumption of imported refined copper cathode from 3.4 to 2.9 million tons.
Antaike also published a forecast for the growth of copper consumption in China. If in 2017 it was 4.2%, in 2018 it was already 3.8%, and in 2019 it dropped to 3%.
