2012 demand in China - Luvata - 0 views
Luvata has seen a contraction in demand for copper products in China so far in 2012, senior vp and chief procurement officer Bob Kickham told Metal Bulletin on Monday October 8.
“We planned for growth but we saw some contraction, and it’s the first year in as many as I can remember where that’s happened,” he said. The outright contraction in sales volumes runs counter to prevailing analysis indicating that China’s end-use demand grew in 2012, albeit at a slower pace than in previous years. China’s apparent usage – not taking into account unreported changes in inventories held by consumers, producers, traders or the State Reserve Bureau – grew by 27% in the six months to July, driven by an 80% increase in net imports, according to the International Copper Study Group (ICSG). But as the ICSG pointed out, anecdotal evidence suggests that bonded stocks in Chinese warehouses have surged during the same period as demand has failed to keep pace with the stronger imports.“I wouldn’t be surprised at all to see that warehouse stocks in China are at the 650,000-700,000-tonne...