According to China Minmetals, China's refined copper consumption will grow 5.2% in 2012. This compares to an average growth rate of approximately 15% between 2005 and 2010. The company maintains that the growth in consumption will be proportionately higher than growth in domestic copper output however.

According to the General Research Institute of Mining & Metallurgy, it is a misconception to that 50-60% of copper is absorbed by China's power industry. The industry body posits that 30% of copper consumption is attributed to infrastructure projects, which include power, rail and telecommunications. 21% is absorbed by the construction, 20% for the production of consumer goods and 7% by industrial equipment manufacturers. The research institute forecasts copper consumption growth of 5% in the power industry this year and considers it to be the key driving force behind overall Chinese copper demand, which it expects to increase 4.1% in the same period.

Xingye Copper International Group plans to commission its 25,000t/y copper plate and strip project in Zhejiang province by 2014. The company already operates a copper and copper alloy plate and strip plant.

According to Antaike, by 2015, Chinese consumption of copper is expected to rise by 66% from the level seen in 2011. In 2011, the nation consumed 7.4Mt of copper, which is expected to grow to 12.2Mt in 2015. The research organisation attributes the key growth drivers to power, transport and new energy sectors.

According to the CEO of Codelco, the world's largest copper producer based in Chile, demand for copper will continue to be driven by China through 2017. Consumption from the nation is expected to account for around three quarters of the 4.8Mt of new copper production expected to come on stream over the next six years. Codelco pointed to continuing urbanisation and infrastructure developments as the key drivers of demand in the region. China currently consumes around 38% of the world's copper. Global consumption is expected to hit 22Mt by 2017.

Airen Metals announced plans to develop a 10,000t/y copper wirerod plant in the Shree Khatushyamji Industrial Area in Rajasthan. The project is expected to be commissioned in December 2013.

From Nexans' Q1 2012 financial report, we can infer that the European wirerod market was supported by a very strong automotive sector, driven by demand from German premium auto manufacturers, as well as increased infrastructure investment in France and Scandinavia, and a rebounding construction sector in Northern Europe. Demand in Southern Europe, meanwhile, continues to be subdued.

Russkaya Mednaya Kompaniya's (RMK) Kyshtym Electrolytic Copper wirerod plant (JSC 'KMEZ') in the Chelyabinsk region is undergoing development and modernisation work, which involved an investment of 144M roubles (US$4.8M) in 2011 and is expected to require at least a further 170M roubles (US$5.6M) in 2012. RMK stated that it will invest 19.0B roubles (US$627M) in the Chelyabinsk region in 2012.

The Japanese Electric Wire & Cable Maker's Association has announced that electric wire shipments in fiscal 2011 increased by 0.3% in total from the previous year to 685,020 tons. The year-on-year increase in shipment levels for a second consecutive year was despite the impact of the earthquake. Although those for electricity and electric machinery fell below the previous year's level, those for construction/building and automobiles recovered to increase the total figures and those for communication increased by 6.1% year-on-year to 15,728 tons. The figures for electric wire shipments for electricity declined by 13.2% year-on-year to 61,247 tons and fell significantly below the previous year's figures as electric power companies decreased capital investments in the aftermath of the earthquake. On a monthly basis, they also declined in almost all months.

Copper wire and cable shipments reached 59,500t in March, up 5.9% y-o-y and 0.2% m-o-m. The increase is attributed predominantly to a recovering automotive sector, with demand from this sector increasing 76.2% y-o-y.

It has been announced that General Cable Corp. acquired Delphia Produtos Eletricos Ltda., a Brazilian automotive parts manufacturer although terms of the deal have not been disclosed.. Delphia manufactures automotive ignition wire harnesses sold into the Brazilian market and reported revenues of about $20 million in 2011. General Cable had net sales of $5.9 billion in 2011. General Cable CEO Gregory Kenny said, "over the past several years, through our expansion strategy and continuous improvement culture we have enhanced our service capabilities in a wide range of transportation and industrial applications for original equipment manufacturers, suppliers and distributors. We are well positioned to further enhance the value proposition to our global customers having achieved another important milestone with the acquisition of Delphia in this significant market in South America." Delphia is located in Sao Bernardo do Campo, Sao Paulo State and will continue to operate as Delphia under the umbrella of General Cable Automotiva Brasil.

Sumiden Hitachi Cable said it forecasts Japanese electric cable makers' shipments of VVF (vinyl insulated vinyl sheathed flat-type) cable will total an average of 4,500-4,700 tonnes per month in copper weight in fiscal 2012 ending in March 2013. This would be an increase of around10%. However, if the reconstruction works in disaster areas affected by the Japanese earthquake were delayed, the monthly shipment forecasts could show a slight fall. Sumiden Hitachi Cable is the largest sales company of building cables and wires in Japan and is jointly controlled by Hitachi Cable, Sumitomo Electric Industries and Tatsuta Electric Wire & Cable. Sumiden Hitachi Cable is the third largest supplier of VVF cable in Japan.

Wanma Cable recently announced that for the last year its operating income was RMB2.6 billion ($0.4 billion) increasing by 21.32% year-on-year, and net profit attributable to shareholders of listed companies was RMB103.6 million ($16.4 million) increasing 6.39% year-on-year. In product layout, the company consolidated its MV/LV and EHV market positions while establishing a special cable business division to intensify efforts to develop a special cable business. The company has secured a good start in new fields, such as rail transit, power generation, petroleum and petrochemical, wind power and coal mining. Wanma Cable's CEO recently said that the income target of company in this year was RMB3.1 billion ($0.5 billion) increasing by 20% year-on-year, based on the copper price keeping last year's price level. The company completed an investment plan in EHV and MV/LV cable through an IPO raising funds."

Despite the small drop in March copper imports, overall imports of copper to China remain at a high level. This may seem somewhat surprising in the light of the deeply unfavourable arbitrage, a deteriorating short-term consumption outlook and high inventory levels. CRU suggests that much of the material is imported by traders into bonded warehouses, who may be using copper as a financing mechanism to take advantage of arbitrage opportunities in other markets, such as in the RMB and interest rates. Bonded warehouses allow traders to easily re-export material out of China without incurring major costs, such as VAT. This allows them to take swift aversive action in case the outlook on Chinese consumption weakens further, while benefitting from the export-friendly arbitrage window. The slower growth in scrap imports is more reflective of the negative arbitrage and the temporary easing of the concentrates market following outages at PASAR's Leyte smelter and PPC's Saganoseki smelter.

Preliminary data from China Customs indicates that imports of copper (comprised of blister, cathode, alloys and semis) to China reached 462,182t in March 2012. This represents a 4.6% fall from 484,569t in February 2012, but a 51.9% increase from 304,299t in March 2011. Q1 2012 imports of copper to China reached 1,360,715t, up 50.5% from 904,002t in Q1 last year. Meanwhile, imports of copper scrap in March 2012 totalled 430,000t, up 7.5% m-o-m and up 10.3% y-o-y, taking Q1 copper scrap imports to 1,060,000t, a 6.4% y-o-y rise.

In a meeting held on 7th March, the Korea Copper Industry Cooperative and the Korea Research Society of Copper and Copper Alloy began to draw up a strategy for the development of the local copper industry until 2025. The strategy will look at how to improve the region's competitiveness in the copper semis sector, by coordinating research and development initiatives, looking at the effects of the recently imposed VAT on scrap copper and analyzing the problems associated with facility expansion. The strategy will also aim to publically promote new copper technologies, including products utilising copper's anti-microbial properties.

Japan's largest company of building wires and cables, Sumiden Hitachi Cable, which is jointly controlled by Hitachi Cable, Sumitomo Electric Industries and Tatsuta Electric Wire & Cable, says it plans for its sales volume in copper to increase slightly year-on-year for first half of fiscal 2012 beginning in April. The firm forecasts that domestic demand for its three major items, the largest being low voltage XLPE cable, would remain steady y-o-y at around a monthly average volume of 14,500t of copper Sumiden Hitachi Cable estimated that Japanese demand for its three major products increased by 6%y-o-y in H2 2011 to average 15,800t in copper per month. Building wire and cable shipments remained steady for large building projects situated mainly in Tokyo while shipments increased by 20% y-o-y in the Tohoku area as a result of the restorations being undertaken following the earthquake last year. The shipment levels were also boosted by active public facilities construction towards the end of the Japanese major fiscal year in March. Forecasts suggest that in H1 F2012, total demand and shipments would level off as construction projects and restorations following the earthquake would begin to tail off.

It was reported that Chinalco Luoyang Copper Co. Ltd. plans to boost production of copper semis in 2012. Output at the electronic copper strip plant is set to reach 55,000t this year. Overall, the company intends to produce 150,000t of nonferrous metal semis in 2012, up from 114,000t in 2011. Chinalco Luoyang Copper has a total nonferrous semis production capacity of 240,000t/y.

It was reported that the value of output at Canghuan Copper Products Co. Ltd. Reached RMB2.9B in 2011. This represents growth of 32% y-o-y. The company, which is owned by the Golden Dragon Group, produces high precision tubes for air conditioning, oxygen-free copper tubes for the solar power sector, as well as microelectronic components anf radio-frequency cables. In January Canghuan Copper began an expansion project which will increase its production capacity from 5,000t/y to 100,000t/y.

The Japan Copper and Brass Association anticipates that the production of rolled copper products will reach 825,300t in the 2012/2013 financial year, up 2.4% y-o-y. The organisation attributes this projected increase to brighter economic prospects, a prospering automotive sector and increased government reconstruction investment.This year, output declined 6.6% y-o-y. In February alone, production reached 64,076t, up 0.9% m-o-m, but down 8.5% y-o-y.

Imports of refined copper to China increased by 12% m-o-m in February to 375,831t, marking the third highest level of imports to the region on record. The increase is attributed to delays in shipments following China's January holiday period, as well as buyers restocking in expectation of robust demand in seasonably strong Q2 2012.