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Copper output to hit 16m tons by 2015
CHINA'S total annual copper processing capacity will reach 16 million tons by 2015 with the addition of another 3.15 million tons.
But Wang Biwen, head of the copper division under the China Nonferrous Metals Fabrication Industry Association, said the annual growth rate is seen to be lower than the double-digit gain in the five years through 2010.
"A weak export market, as a result of uncertainties in the global economy, means copper processors have to focus on the domestic market in the coming years,'' Wang told a conference yesterday on the sidelines of the 6th China International Exhibition for Copper Industry, Asia's largest copper industry show.
China's copper product output rose 17.8 percent to 10.28 million tons last year, or over half of the world's total. Consumption was flat at 10.56 million tons last year, the association said.