SOFIA, June 11 (Reuters) - China's thirst for electricity will keep copper consumption growing at 8-10 percent this year as the country builds more power stations, one of its largest mining firms said on Wednesday.
Power generation is the most important copper consuming industry in China, accounting for between 50 and 60 percent of all copper used.
"The power industry's copper consumption will increase consistently in 2008," said Wu Yuneng, general manager of JCC Southern Group, part of Jiangxi Copper Co Ltd (0358.HK: Quote, Profile, Research)(600362.SS: Quote, Profile, Research), China's biggest integrated copper producer.
Copper, used widely in wires and pipes, is a key component in power stations, demand for which is strong in China as the country industrialises.
China is the world's biggest user of industrial metal copper MCU3, prices of which rose to a peak of almost $9,000 per tonne earlier this year.
Damage to power generation capacity caused by this year's earthquake in Sichuan province will require a major rebuilding programme, which will also stimulate copper use, he said.
"Power reconstruction after the earthquake also supports copper consumption," Wu told delegates at a conference hosted by Metal Bulletin.
Imports of refined copper into China between January and April 2008 fell by 23 percent year-on-year, leading some in the market to question whether China's appetite for the metal was weakening, but Wu said the decline was in part attributable to increased domestic production.
Refined copper output in China rose by 23 percent in the same period, he said, to 1.15 million tonnes. The world market for copper is around 18 million tonnes.
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