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China's copper output in 2010 is expected to impact million tons mark

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Adolf Pike 
Asked at 2011.06.07 01:03:36
China's copper output in 2010 is expected to impact million tons mark
answer Jane black  Answered at 2011.06.07 01:03:36
China's copper output in 2010 is expected to mark the impact of million tons of nonferrous metals, copper, grounding rods, steel hoops, hoop Keywords: non-ferrous metals, copper, grounding rods, steel hoops, hoop China Nonferrous Metals Processing Copper Industry Association director Wang Biwen 11 in Shanghai, said that with the advance of the domestic power grid construction and the steady growth of consumer appliances, this year, China's copper production is expected to impact 10 million tons mark. At the same time, shortage of copper resources in China will further enlarge, and the enterprises to be proactive. Wangbi Wen is here at the Fourth China Fair for International Copper expressed above. 2009 financial crisis, China's copper production increased by only 6% to 8.88 million tons. In 2010, as the economy recovers, the first half of the domestic copper output reached 4.77 million tons, an increase of nearly 18%. "A conservative estimate of the copper output this year will be close to 10 million tons, breaking the mark is also very possible," Wang Biwen said. At present, China's copper production accounts for half of the world, the China International Exhibition of the scale of Copper ranked first in Asia. Such as air conditioning with brass, copper and other high-end solar products, China has reached international advanced level. "The Chinese market is becoming global copper industry leader, which also attracted a lot of interest in the international copper giant," China Nonferrous Metals Fabrication Industry Association Pan-chu said. In this case, the Chinese copper industry must change the "big but not fine," the situation. "The next five years, the industry will enter a second high-speed era, the gradual slowdown in output growth, continuously improve product quality," Wang Biwen think. The rapid development of copper industry, will inevitably spawned a huge demand for refined copper. China is a shortage of copper resources in the country, copper concentrate self-sufficiency rate of only about 25%. High and volatile copper prices, copper processing and will increase the amount of funds used in the production process, thereby constraining the industry profits. According to industry leading data disclosed Hailiang shares, as copper prices rebounded in the first half of this year, the company's gross profit margin is only 5.04%, down 7.37 percentage points. Recently, because of a weaker dollar and the Japanese central bank cut interest rates to stimulate the international copper market bulls atmosphere, the London copper prices soared to $ 8,300 / ton or more, hit a two-year high. Goldman Sachs, Macquarie and other leading investment banks have also raised expectations of future copper prices. In this case, Wang Biwen proposed to speed up the development of upstream resources and find alternative materials of copper, "which will become the new hot spot for investment." In addition, companies must learn to manage risk using the futures market, but in the process, we must adhere to the "earn processing fees, not to pursue the copper market speculation" principle.
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