Commodity Research Copper Demand in 2009 and 2010 Strong while 2012 still Growth

Copper demand 2012 still growth, but it?s not going to grow as fast as it did in 2009 and 2010, said head of commodities research at Standard Bank Plc in London. That will still support industrial commodities. We see the supply side lagging substantially for copper. We still think the copper market will be in deficit next year. Global demand for copper will still expand 2012, rising 2.7 percent compared with 3.7 percent in 2011, Barclays Capital estimates. The bank is forecasting shortages as mining companies fail to keep up with consumption. Developing economies will expand 6.1 percent, compared with 1.9 percent for advanced economies, the IMF forecasts.

Copper consumption growth in China, the largest user, will slow next year as the economy cools, according to Beijing Antaike Information Development Co.

Refined copper consumption is forecast to rise 6.4 percent to 7.85 million metric tons in 2012, said Yang Changhua, a copper analyst in Antaike who has been studying the market for more than a decade. This compares with 8.5 percent growth this year to 7.38 million tons, Antaike?s data showed.