Reuters reported that consumption of copper cathode is likely to grow more slowly in China in 2013 cooling further after the pace of growth looks set to drop by at least a third this year.
Senior metals executives said that demand for industrial metals such as copper has weakened this year as China's economic growth slows largely due to a decline in manufacturing activity in its main export market Europe.
China, the world's top user of copper, could stage a tepid economic rebound in the Q4 as higher public infrastructure spending nudges it out of seven consecutive quarters of slowdown but growth will remain lethargic through 2013 a Reuters poll showed.
Mr Jerry Jiao president of Minmetals Nonferrous Metals Holdings said that "Cathode consumption and imports would definitely grow next year but the growth rate will be slower.
Mr Wu Yuneng deputy GM of Jiangxi Copper said that Chinese cathode consumption growth would slow in 2013 after growth of 4.8% this year. Neither provided a specific figure but growth was seen as well down on 7.8% growth last year, 11.5% in 2010, 19.6% in 2009 and 11.8% in 2008.
Mr Stefan Boel member of the executive board at Aurubis AG, the biggest cathode producer in Germany said that it was seeing good interest from Chinese importers for next year and while growth may not be double digit, there could be still good growth.
