China will import
large volumes of copper concentrates to feed its growing
production of refined copper this year, Wang Jin, chief
information officer at China Minmetals Non-ferrous Metals
Holding Corp, said at the LME Asia Metals seminar.
largest copper producer will add 1.1 million tonnes of copper
refining capacity in 2012,
capacity at the year end is expected to be 8.23 million tonnes
in China, he said at the LME Asia Metals
"We predict the
imports of concentrate in China will significantly increase in
2012," he said.
smelting capacity in 2012 will also increase by 650,000 tonnes
to 4.72 million tonnes, he said.
production is expected to rise over 10% in 2012, the same
increase seen in 2011, he said.
copper consumption will slow down in 2012, he said.
consolidation is expected in the copper industry, where 76% of
the total output in China comes from the top ten
By 2015, about 90%
of the copper prodcution will be in the hands of the top ten
producers, he said.