Figure 1 shows the balance sheet of supply and demand of CRU, and the global supply and demand of refined copper in each quarter of 2007-20 12 (unit: kilotons). As can be seen from the chart, in the fourth quarter of 2008 and the fourth quarter of 2009, the global refined copper output exceeded the consumption more. After 20 10, the output and consumption tend to be balanced, and it is predicted that the global refined copper output will exceed the demand this year.

Figure 1

Figure 2 shows the CRU balance sheet, and the supply and demand of refined copper in China in each quarter from 2007 to 20 12 (unit: 1,000 tons). As can be seen from the chart, the output of refined copper in China has been lower than the consumption, and the gap can only be made up by imports. According to customs statistics, this year 1- 10, a total of 394 1066 tons of unwrought copper and copper materials were imported, up by 26.6% year-on-year.

Figure 2