According to foreign news on April 23, Macquarie analyst AngelaBi said in a report on Thursday that China's demand for refined copper in the first quarter increased by 1.1% year-on-year, due to a 5% reduction in scrap copper supply.
Macquarie expects China's demand for refined copper to fall to 4.7% in 2015.
The demand for refined copper in the first quarter should be at the bottom; it should improve in the second half.
Macquarie said: "The structural slowdown in the real estate market and cyclical corrections in manufacturing such as air conditioners, automobiles and machinery have led to weaker demand."
Data show that Shanghai warehouse copper stocks decreased by 7.7% in the first quarter, as both domestic and bonded warehouse transactions decreased.
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