The operational pattern of downstream copper demand in 2018

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The operational pattern of downstream copper demand in 2018

1. From January to September 2018, the production of air conditioners was 160.14 million units, with a cumulative increase of 12.9%; Last year, the cumulative growth was 18.9%; The expected annual growth rate of air conditioning production is 10-12%, with a total copper consumption of 1.262 million tons for air conditioning and an additional 115000 tons of copper consumption

2. The production of household refrigerators from January to September 2018 was 60.167 million units, a cumulative year-on-year decrease of 18.85%; It is expected that the annual production of refrigerators will decrease by 17% -18%, and the amount of copper used in refrigerators will be between 240000 and 260000 tons; Reduce by 20000 to 29000 tons

3. The production of washing machines from January to September 2018 was 51.471 million units, a year-on-year decrease of 10.14%; It is expected that the annual production of washing machines will decrease by 10-12%, with a copper consumption of 35000 to 36000 tons, a decrease of 0.3 to 0.4 million tons.

4. From January to September 2018, the automobile production was 20.842 million units, a year-on-year decrease of 8.54%. The production and sales of traditional automobiles for the whole year are expected to be lower than in 2017, and the copper consumption will remain at around 980000 tons.

Summary: In 2018, the copper consumption for air conditioning increased by 115000 tons, while the copper consumption for refrigerators and washing machines decreased by 30000 tons. The annual production is expected to increase by 85000 tons, with a total of 1.67 million tons, a year-on-year increase of 5.3%.