Sometimes the data gets adjusted and presents a different picture

摘要

Demand for copper is tumbling across the country so Chinese smelters are reducing production and shuttering capacity, giving smelters the upper hand in negotiations with miners over processing fees. Supplies of copper concentrates, which smelters process into refined metal, are plentiful. More production cuts are expected. In fact, global market analysts see a marked slowdown in China's copper consumption growth and modest copper market surpluses through 2009. Shanghai copper stockpiles have risen from earlier reports and are enough for two-and-a-half days of domestic consumption.