Copper demand in China, the world's largest user of the metal used in pipes and wires, may gain as much as 12 percent this year and prices won't fall much further, according to Wanxiang Resources Co's chief analyst.
"Consumption is still strong," driven by continued economic growth, said Sheng Weimin from the unit of Wanxiang Group, the country's largest auto-parts maker. Demand, including refined and scrap copper, may climb to 8.96 million metric tons, said Sheng, who's studied metals markets for more than 15 years.
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