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Chinese base-metals demand for power projects continues
Edited by : AL CIRCLE
1 min read
There appears to be no slowdown in the pace of spending on power projects in China, which results in demand for base metals, says Barclays Capital.
Analysts cite a report from Antaike that the Chinese State Grid Corp. of China plans to buy 1.6 million tons of aluminum, 1.12-1.25 million of copper and 5 million of steel semis this year to continue with its strong growth plans.
“To put that into perspective, it would equate to around 9% of our forecast primary aluminum demand for this year and 15% of our forecast refined copper demand,” Barclays says.
Analysts cite a report from Antaike that the Chinese State Grid Corp. of China plans to buy 1.6 million tons of aluminum, 1.12-1.25 million of copper and 5 million of steel semis this year to continue with its strong growth plans.
“To put that into perspective, it would equate to around 9% of our forecast primary aluminum demand for this year and 15% of our forecast refined copper demand,” Barclays says.
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