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Li Yihuang, the chairman of Jiangxi copper, China's largest copper producer, predicts that Chinese copper demand will reach 7% in 2012. In comparison, the chairman of China's second largest copper producer, Wei Jianghong of Tongling Nonferrous Metals Group, anticipates a similar growth rate of 6% in the same period. Both executives looked towards China's power infrastructure investments as the main source of investment, however, they view the cut back in China's GDP growth target to 7.5%, as well as the stagnant construction sector and slowing automotive and home appliances sectors as deterrents to stronger growth.

Ural Metal and Mining Company (UMMC), a Russian vertically integrated producer of semi fabricated products, has said that it will continue its investment projects in semi-finished copper and copper alloy products despite a 6% y-o-y Jan-July decline in rolled demand this year. The company broke this figure down into its constituent segments: demand for copper pipes fell by 18% y-o-y and flat rolled products sales dropped 8% y-o-y in Jan-July. UMMC currently sells between 58,000-62,000t of rolled products per annum through its Kirov (flat rolled), Revda (flat rolled), Kolchugtsvetmet (tubes) and Majdanpek (tubes) operations. UMMC will complete its delayed 4-year investment strategy in 2013 with an upgrade of machinery at its Kolchugtsvetmet operation.

"Global demand for insulated cable and wire is forecast to expand 8.3% p.a. between 2014 - 2018. Azerbaijan, China, Lithuania, Turkey, and the United States are considered the highest potential markets in the coming years."

Demand impact in the geography

LONDON -(Dow Jones)- Chinese demand for commodities, and copper in particular, won't disappear but will moderate in the near term, Bret Clayton, chief executive of copper at Rio Tinto PLC (RTP) said Wednesday.

S&P says the credit outlook for Europe's mining and steel sectors is becoming negative, as demand weakens, and economic development in emerging markets slows.

"This is a seasonally slow time of year and the Olympics have had a big effect," said Michael Widmer, analyst at Lehman Brothers. "Demand for copper should pick up as we go into September, we may see some restocking in China."

Global copper demand probably won't see much of a recovery until 2011 because of lower global GDP forecasts, a marked slowdown in China's consumption growth and modest supply in the near term, Credit Suisse said in a note Thursday.

Copper demand is likely to remain relatively strong in 2009 despite the world economic slowdown, the chief executive of Norddeutsche Affinerie, Europe's largest copper refinery, said on Wednesday.

Superior Essex has announced it is to close its magnet wire plant in Chauny, France at a cost of €12 million ($18.8 million). The plant, which dates back to 1922, was bought by Superior last year and operates under the company's Essex SAS subsidiary. The closure of the plant will bring production capacity in line with demand the company said. Just under $16 million of the charges related to the closure is for employee severance costs with the rest for equipment relocation and disposal. A review of the plant began three months ago before the sale of Superior Essex to LS Cable was agreed. Meanwhile LS Cable said its first half operating profit increased by over 50% with the Middle East and China leading global demand through the development of utilities and phone lines to meet power needs and internet usage. The chief executive of LS Cable, Christopher Koo, said orders from the Middle East are likely to increase by 80% this year to $450 million. Mr Koo said he expects global cable demand to increase by 4% a year to 2011, with China increasing by 8% annually.