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Gold/Mining/Energy : Copper - analysis
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From: LoneClone2/7/2007 11:20:04 AM
   of 2131
 
China's 2007 copper output to rise 10% to 3.3 million mt: Antaike

Source: Platts

metalsplace.com

China's copper output is expected to increase to around 3.3 million mt in 2007, up 10% year on year compared with the 2006 level, an official from Beijing Antaike, the state-run nonferrous metals provider, told Platts on Wednesdsay.

The Antaike official said: "Copper output is expected to mark a steady growth this year but output would still be limited by tight copper concentrates." He added that the fundamental demand for copper in China would still be the key drive raising Chinese copper output.

Meanwhile, one Shanghai-based trader said domestic consumption for copper started to pick up due to the warmer winter this year. "Temperature in Shanghai is now at around 20 degrees and this is hotter than usual and warmer weather raises copper consumption from end-users. Producers in China are set to ramp up their output earlier this year as higher temperature increases demand for downstream copper products used in electrical appliances such as air-conditioning," the trader said. "Copper demand is set to pick up further in March following the Chinese New Year holidays."

Another trader said: "We are now seeing more copper consumption ahead of the Chinese New Year as more producers want to stock up enough feed supplies before the weeklong holidays in China starting February 17.
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