SOURCE:[Resource News Report] – December 2012 imports of copper into China surged 47.7% from the previous year hitting an all-time high of 509,000 tonnes.
According to International Copper Study Group (ICSG) China’s copper usage grew 19% in 2012 to represent 43% of the world’s consumption. This growth rate more than offsets the copper usage decline of 3.7% in Japan, Europe and the USA. World-wide copper mine production increased approximately 3% in 2012.
A survey of Qualified Domestic Institutional Investors (QDIIs) in Beijing indicates that they are shopping for assets primarily in Europe and North America. Due to a widespread pullback in resource equities the market for copper acquisitions and off-take agreements has never looked better.
…read more
Source: Pipe- Copper Feeds