It is understood that this year's global copper concentrate supply situation is relatively optimistic, there are many copper project put into operation, such as Mongolia's oyu Tao Le cover copper gold project, caserones copper mine in Chile and other, these projects will drive output of copper concentrate to faster growth. Expected this year, the global copper production is about 17 million 500 thousand tons, an increase of 5% over 2012. And benefit from a substantial rise in copper production and copper smelting capacity expansion, the global refined copper production is expected to grow by about 4% this year, reaching 21 million tons. Duan Shaofu and predicted that the next 2 years ~3 years, there will be a substantial increase in the supply of copper.
And China's copper production this year to maintain a steady growth. According to statistics, in January this year, ~9 months, China's electrolytic copper production was 4 million 950 thousand tons, an increase of 12%, of which the mineral electrolytic copper reached 3 million 260 thousand tons, an increase of 16.26%, copper processing material output of 10 million 610 thousand tons, an increase of 22.68%. This year is expected to reach 1 million 700 thousand tons of copper concentrate production, mineral electrolytic copper production reached 4 million 250 thousand tons, 600 thousand tons of crude copper imports.
From the import and export trade, January to August, China's trade volume of copper products reached $481 billion, fell by 6%, accounted for 46% of the total non-ferrous metal trade; trade deficit amounted to $388 billion. At the same time, non-ferrous metal trade deficit was $285 billion.
From the sales point of view, this year's copper industry sales revenue continued to maintain a substantial growth trend. January ~7 months, the copper industry sales revenue more than 1 trillion yuan, an increase of about 140000000000 yuan last year, accounting for 38% of non-ferrous metals sales revenue, profit 19 billion 600 million yuan, compared with the same period last year decreased by 2 billion 750 million yuan.
From the consumption level, the overall slightly better than last year. Due to the slow recovery of the global economy, copper consumption growth is limited, it is expected that in 2017 China's refined copper consumption growth rate is stable, an increase of about 6.5% compared to 2016.
A slight increase of China's copper industry, but to prevent the step of aluminum, lead and zinc in the footsteps of. At the same time, the cost of copper production in our country is increasing day by day, the competitive advantage is gradually weakened, although copper consumption still has room for growth, but the consumption intensity is obviously weakened, and the growth space is very limited. In 2016, China's unit GDP refined copper consumption intensity close to the world average of 4 times, 10 times more than the United states. But with the transformation of China's economic growth mode, a substantial increase in the proportion of the third industry, as well as the appreciation of the renminbi, this part of the advantages will gradually weaken. Although China's consumption of copper in the short term will maintain a certain growth, but the growth will slow and limited.