Mobile:0086-13283840926    E-mail:sunyrecycle@gmail.com
    


Zhengyang Machinery Alibaba Facebook Twitter Linkedin Youtube

Phone:+86-371-86617456

Mobile:+86-13283840926

Skype:harbin0229

E-mail:sunyrecycle@gmail.com

Name:
Country:
E-mail:
Tel:
Project:
Time:
IP:
Message:
NewsHome > News >

Electric Vehicles Segment Spur Long-Term Demand Prospects of Copper

Time:2019-02-16 17:47 Author:Suny Group

The recent trade data released Thursday suggest notable surge in imports of copper by China in the opening month of the New Year.

According to data, the imports of unwrought copper totaled 479,000 tonnes in January 2019. This is significantly higher by 14% when compared to December 2018 imports. Over Jan ’18, the imports registered a jump of almost 9%. Going by the current trends, the annualized imports in 2019 are likely to surpass the record input of 5.3 million tonnes reported during the previous year.

The imports of copper concentrates totaled 1.9 million tonnes in Jan ’19. When compared with the year-ago period, this was 17% higher. Also, the Jan ’19 imports are the second-highest monthly imports in the country’s history. At the current pace, the imports during the entire year 2019 are likely to total around 22 million tonnes, which is significantly higher than the record imports of 19.7 million tonnes posted in 2018.

The early trends suggest the beginning of a long-term trend for copper demand in the country from the electric cars manufacturing industry. This demand is likely to offset the drop in demand from conventional cars segment. The Citigroup forecasts overall copper demand growth of 0.3% from the automotive sector during 2019. As per estimates, the projected 53% surge in electric car production in the country is likely to cover up the 9% decline in production of conventional petrol cars, Citigroup said.

The copper for electric cars is likely to account for two-thirds of the demand growth until 2030, it noted.

Tags:

 

Get Price And Support:

Please Feel free to give your inquiry in the form below.We will reply you in 24 hours

Name:
Country:
Tel:
Email:
Project: />
Time:
IP:
Message: