CICC: China's copper demands in 2015 likely to increase 4.2pct y-o-y
BEIJING, Mar. 16 (Xinhua) -- China's demands for copper in 2015 are estimated to increase 4.2 percent year on year, while its copper demands in 2016 will likely slow down by growing 3.3 percent year on year, according to Ma Kai, an analyst of China International Capital Corporation (CICC) at a meeting recently held in Shanghai.
CICC estimated that the global copper market will see a surplus of 480,000 metric tons (tonnes) in 2015.
In addition, China's aluminum market will continue seeing a glut this year. Except for China, global aluminum market will likely see about 800,000 tonnes of aluminum in short supply. China's aluminum output is expected to increase 3 million tonnes this year, of which 1.2 million tonnes come from Xinjiang Uygur Autonomous Region, said Ma. (Edited by Hu Pingchao, firstname.lastname@example.org)