US copper imports increased by 30% m-o-m to 66,166t in March 2011. This represented the highest level since March 2009 when it reached 79,975t. The rise in imports was mainly attributed to recovered demand from the manufacturing sector. However, the construction sector continues to perform poorly.

German integrated copper producer Aurubis reported a 47% y-o-y increase in net income to €258M in H1 FY2010-2011 (1st Oct 2010 - 31st Mar 2011), up from €161M. H1 revenue increased by 42% y-o-y from €4.5B to €6.5B. This outcome was mainly the result of higher copper prices and continued demand for copper caused by the global economic recovery. However, demand from China steadied in Q2 due to a tighter credit environment, as did demand from Europe, due to increasing economic instability. The wire and cable industry performed well, experiencing strong demand from the automotive and domestic appliance sectors. Likewise, copper strip was supported by demand from the coinage as well as special material sectors. On the other hand, copper tube and flat rolled products struggled to recover as a result of strong competition from lower cost substitutes.

Essex Group Inc., a subsidiary of Superior-Essex Inc., announced the acquisition of the magnet wire sale and distribution assets of Furukawa Electric Co. Ltd. (FEC) and American Furukawa Inc. Magnet wire is produced out of copper or aluminium and is used largely by the motor and electronics industries. The product is becoming increasingly popular due to its applications in the manufacture of electric motors for the hybrid vehicle market.

Car sales have dropped by 67.1% in Beijing after city authorities imposed a car purchase limit policy at the start of 2011. According to the China Association of Automobile Manufacturers (CAAM), sales were down from 283,000 vehicles in Q1 2010 to 93,000 in the same period this year, with new cars accounting for 66% of sales. Automotive production is closely linked to copper demand, with the industry having an estimated 6.9% market share of world copper consumption.