Reuters reported that China’s base metals consumption growth rate could slow further next year as exports fall even if Beijing starts to loosen monetary policy after the Q1.
A possible debt crisis in developed countries and Beijing's credit tightening are the two major factors that could slow demand in the world's top consumer and producer of most base metals.
Mr Yang Changhua copper analyst at state-backed research firm Antaike said that still with the country having run down stocks during a period of high prices, imports of refined copper may see an increase after falling sharply so far this year. China’s copper consumption may rise to 7.8 million tonne to 7.9 million tonnes in 2012 from 7.38 million tonne expected this year with demand from the power sector set to remain strong. We see a rise of 6% to 7% in 2012 compared to a gain of 8.5% this year.”
