As China cuts back on spending across a wide range of sectors—from housing to home appliances—the growth rate of copper demand in the world’s top copper-consuming country is expected to slow to its lowest level in nine years.

　　According to London-based metals consultancy CRU Group, China's copper processing volume this year is expected to reach 1,000. 10,000 tons. This 4% increase will mark the lowest growth rate since 2006. CRU also indicated that global demand growth will be weaker than previously expected.

　　China’s annual copper demand accounts for approximately 45% of global copper production. However, after the economy experienced 30... After years of robust growth, China is now facing the predicament of falling housing prices and a weakening manufacturing sector. Concerns are mounting that the lowest economic growth rate in more than two decades could lead to a decline in metal demand, a worry that sent copper prices to a five-year low in January.

　　“China’s demand side is clearly very weak,” said Vanessa Davidson, CRU’s Copper Division Manager. 4 He said in a telephone interview in London on the 1st, “People still have doubts about what level economic growth will return to in the future. Some people are even uneasy about it.”

　　Against the backdrop of multiple mine strikes—from Zambia to Australia—copper prices have rebounded since January, with the rebound reaching as high as 18% at one point. 。

　　CRU Consultant Matthew Wonnacott It was noted that high inventories of consumer appliances and automobiles, coupled with “very weak” spending by the State Grid, have dampened copper demand, resulting in China’s copper demand growing by only 0.7% in the first quarter. According to CRU estimates, global copper demand in 2015 will rise by 2.8% to 22.1 million tons, marking the lowest annual growth rate in three years.

　　CRU forecasts that this year, the global copper market will face a supply deficit of 9. 10,000 tons, higher than the January forecast of 5,000 tons. It has lowered its estimate for copper ore supply and estimates that the Chinese government purchased 85,000 tons of copper in the first quarter.

　　“The issue of supply disruptions has led to a tight balance between supply and demand,” Wonnacott said in the interview. “Right now, the outlook on the demand side remains unclear.”

　　CRU will be at 4. The 14th Global Copper Conference will be held in San Diego on the 13th. The outlook for demand will be one of the key topics of concern for attending miners, customers, and traders.