21 Jan 2015
China’s Copper demand hit by slowdown in property markets – Goldman Sachs
FXStreet (Mumbai) - Persistent weakness in China’s property market may hurt China’s demand for copper over 2015, Goldman Sachs said in a report.
Goldman Sachs added that “Property is still the key copper driver and it remains soft,” “Demand is likely to be hit hard.”
On the impact on copper demand from investment by electricity generator State Grid Corp. of China, the bank said,
"The national power grid accounts for only as much as 17 percent of the country’s copper demand."
“The importance of the national grid to China’s copper demand is heavily overstated,”
“An increase in State Grid’s budget will not alone be sufficient to move the copper balance into deficit.”
Goldman Sachs added that “Property is still the key copper driver and it remains soft,” “Demand is likely to be hit hard.”
On the impact on copper demand from investment by electricity generator State Grid Corp. of China, the bank said,
"The national power grid accounts for only as much as 17 percent of the country’s copper demand."
“The importance of the national grid to China’s copper demand is heavily overstated,”
“An increase in State Grid’s budget will not alone be sufficient to move the copper balance into deficit.”