Copper industry's strong rise of end demand is a shortage of demand Era
The supply of global copper resources is adequate, but the short-term increase in mineral production is limited. The supply of copper comes from two aspects of primary copper and recycled copper, in which the primary source of copper is the primary source of copper. Copper resources in spite of every year in mining, but due to the new copper mine, the world's copper reserves are not due to the rapid decline in development. Since the 2003 market prices have risen since, global copper exploration investment increased year by year. According to the prediction of icgs 2009-2014 global copper production capacity will to 4.4% annual growth rate of growth. And the production of recycled copper in the world to maintain a slight growth.
China's copper refining and refining capacity to maintain rapid expansion trend. 2000-2009 China's copper crude refining capacity increased from 1180000 tons to 3240000 tons, an average annual growth of 11.g%; the same period of copper refining capacity from 1690000 tons to 5290000 tons, an average annual increase of 13.5%. The rapid expansion of production capacity led to the simultaneous increase in the output of crude copper and refined copper. China's copper crude refining, refining capacity in the next five years will continue to grow rapidly. Is expected in 2015, China's copper crude refining and refining capacity will reach 5870000 tons and 8910000 tons, the corresponding output will reach 4810000 tons and 7130000 tons in turn.
China's copper processing industry is rising. In 2009 China's copper output reaches as high as 888.42_wan million tons, an increase of 18.68%, for seven consecutive years, ranking first in the world production has accounted for more than 50% of world production. Three leading products of copper, copper, copper in the 2000-2009 years, respectively, to achieve an average annual growth rate of 18%, 18.8% and 25.7%, which indicates that China's copper processing has embarked on the road of revival and development.
Traditional terminal market demand for copper. The traditional consumption of copper includes electronic power, home appliances, transportation, construction and so on. Among them, the power industry has been the main consumer of copper in China, average every power grid investment 1 billion yuan consumption of 880 tons of refined copper, is expected in the "Twelfth Five Year Plan" electric power industry with copper 450-500 million tons: household electrical appliances is China's large copper consumption, household electrical appliances Association predicted electrical appliance industry in the next five years demand for copper annual growth rate will be maintained at less than 5%; the car is an important consumption of refined copper, mid size car containing copper 22.5 kg, with a gradual increase in China's automobile production, of copper consumption will grow steadily; China Construction copper has just started, demand potential is huge.
Emerging industries have created a lot of new demand for copper. Energy saving and environmental protection, new energy, high-end equipment manufacturing and other strategic emerging industries for copper to create a large number of new demand. According to the relevant departments to predict the growth in 2015 to change the way to bring about the copper demand growth of about 10%, in which the application of energy efficiency increase in the proportion of 25%.
The shortage of copper into the cycle, copper prices high shock strength. Copper terminal consumption growth is rapid, in the case of copper production difficulties in the next three years, we expect copper will enter the shortage period. Good fundamentals to rising copper prices, and its financial attributes also due to worldwide easing monetary policy provide liquidity and get fully reflected. Therefore, we conclude that the price will be upward.