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Gold/Mining/Energy : Copper - analysis
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To: tyc:> who wrote (146)7/7/2000 10:32:53 AM
From: Robert Douglas   of 2131
 
I have heard that USA consumes 45% of the world's copper but has only 5% of the world's population. There is an awful lot of catch-up to be done as world living standards improve.

The numbers for 1999 (thousand metric tons) are:

United States: 2,961 or 21% or total world consumption.

Japan: 1,265 or 9%.

China: 1,500 or 10.6% up 11% from prior year.

Other Asia: 2,250 or 16% up 9% from prior year.

Western Europe: 3,753 or 26%.

I think these numbers tell the story. China and the rest of Asia (ex-Japan) consume a fourth of the world's copper and are growing that consumption at about 10%. This alone will add two and a half percent to the world's demand for copper.

If Europe picks up steam, which I am predicting, and the U.S. doesn't slip into recession, also not likely, then the demand for copper should grow nicely for the next few years.

I'll post my views on the other half of the equation - supply- at a later date.
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