The organization said that, “during this period, the average level of copper mineral utilization is 91%, which declines greatly in the latter half of the period and the proportion is only 87% during 2006 and 2007. All is cause by rareness of high-grade products, labor disputes, the shortage of equipments and plants and business failures and so on.”

 

 

   During 2006 and 2007, copper output increased 1.7% each year averagely lower than that of 3% in the last eight years. Meanwhile global refined copper output increased to 18.1 million tons with a growth rate of 28.5%.

 

 

   ICSG stated that during the ten years China’s refined copper output almost tripled and has increased to about 3.5 million tons from 2.4 million tons. Chile’s output reached to around 2.9 million tons and thereafter this level has maintained stable since 2003.

 

 

   The consumption of refined copper increases 34% annually from 13.5 million tons to 18.1 million tons with annual growth rate of 3.4%. China is a major consumer force.

 

 

   Since 1998, global copper inventories peaked in 2002 and reached 2.05 million tons. And it began to reduce since 2003 and at the end of 2007 was reduced by about 1 million tons.