Although the Chinese real estate industry has fallen into downturn, with the increase in orders for home appliances, electric vehicles, solar energy, and wind energy industries, China's demand for copper and aluminum is unexpectedly strong, which has also stimulated the surge in China's aluminum prices.The weak copper price provides support.
According to data quoted by Reuters, in the first eight months of this year, the output of copper -type home appliances such as refrigerators and air conditioners in China has increased double -digit.In addition, China's manufacturing industry has also expanded for the first time in September for the first time.
Report quoting Dan Smith, director of the agency Amalgamated Metal Trading, said that although there are many problems in the Chinese real estate market, the strong demand for copper is obvious.
A Chinese client, including copper pipe manufacturers and copper smelters of green energy companies, revealed that its inventory has dropped to about half of the same period of each year.
A manager of the smelter said that after recent (copper price), the purchase volume has increased.
Consulting company Cru Group in Shanghai analyst He Tianyu said that China has been booster of copper demand for the targeted stimulation of the real estate market.
He also added, "We don't think there will be bad performance in the construction industry this year or next year."Consumption may increase by 5.7%this year, higher than 1.8%last year.
