The world copper tube market performed strongly in H1 2011, with consumption growing 6.5% y-o-y and 3.1% compared to H2 2010. Copper tube consumption in China was particularly robust, increasing by 11.5% y-o-y in H1, mainly supported by government subsidies for white appliances. However, it was Japan that exceeded our growth expectations the most, achieving a rise in copper tube consumption of 20.4% y-o-y in H1, despite the negative impact of the 11th March earthquake and tsunami. World Q2 consumption rose 1.9% y-o-y and 4.6% q-o-q, exhibiting steady growth.
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