Global recovery in wirerod output continues to be driven by China

摘要

Copper wirerod accounts for ~75% of refined copper consumption and ~13% of direct scrap consumption. ? Global wirerod production increased by 13.6% y/y during the first quarter of 2021, with world ex-China output continuing to contract, falling 0.9% y/y. ? Chinese output was far stronger, seeing growth of 39.8% y/y in the first quarter, coming from a weak base quarter in 2020 when a national lockdown was in effect.