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Metallurgists of Kazakhstan are waiting for copper consumption growth from China

2 July 2015

Metallurgists of Kazakhstan expects to increase copper demand from China. Oleg Novachuk, who is chairman of the board KAZ Minerals, sure of his unprecedented. The opinion was head of the leading copper -dobyvayuschey of Kazakhstan said at the International Congress in Astana. Results are expected copper demand from China was a decision KAZ Minerals to increase production volumes. Production of copper will increase by 300 000 tonnes. Such a result will be achieved through the commissioning of new fields. It is about Aktogay, Bozshakol and Koksal.

According to Oleg Novachuk Boschekul will be commissioned by the end of 2015. As for Aktogay, in the same period, the construction should be completed Ifazy to develop the oxide ore. Power will be 15 000 tonnes. However, the main issue of sulphide concentrates is planned to start in 2017. Total power Bozshakol and Aktogay after the launch reached 55 million. Tons of ore / year. This amount exceeds the available power companies have 1.5 times.

Confidence KAZ Minerals chapter in the growth of copper consumption in China is under a strong base. By 2030, the country's planned construction of more than 150 cities. Their population is 2 mln. People. Accordingly, we can expect to need additional conductive lines. Also, the materials will be used for the construction of air conditioning, piping and other equipment.

More could be skeptical of such confidence in mid-May. Economic growth in China continues to slow down. The steel market has already felt the negative impact of such a reduction. The fall in demand for steel can be taken as an indicator for the copper market. But it is China's leading consumer-red metal. It accounts for over 50% of the global volume of copper produced. However, in May, analysts said an increase in demand at the level of 4−5% per year from China. In contrast to the steel market consumer of copper structure is more complex and diversified. At her influence different industrial sectors. Including industry generating energy.

Meanwhile, steel and copper market until recently observed a decrease in the cost of production. The price of rebar has fallen by 26% over the year. The cost of copper on LMEsnizilas 7%. In April 2015 there was a surplus of red metal in the world. Analysts believe that in the year copper production will increase by 4%. Consumption also increased by 0.6%. Thus, we can expect an excess of metal to 230 000 tonnes.

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