German Construction Industry Buoying European Copper Demand

Bloomberg reported that  anticpated growth of about 2 percent this  in the German construction industry will support growth for copper in Europe, although this won’t be reflected until 2013, says Aurubis AG,the world’s second-biggest refined copper producer.

As quoted in the market report:

Copper demand won’t pick up until the start of 2013, Peter Willbrandt, chief executive officer, said in an interview in London today. Aurubis’s wire rod sales fell 20 percent in the year ended Sept. 30 and sales of strips, sheets and plates were unchanged from the year-earlier period, he said.

We expect construction, the electronic industry and the renewable energy will foster demand,” Willbrandt said of Germany. “Demand from the German automotive sector is still good.

To view the whole Bloomberg report, click here.