Himfr.com , one of China's leading B2B search platforms , has analysed the 2009 Chinese non-ferrous metal market.
Because of the financial crisis, it is expected that in 2009 the Chinese non-ferrous metals market will continue to be cool.
In 2009, domestic and international economic pressures will increase.
Economically developed countries in Europe and the Americas will continue to
be in recession while China's economy is facing its most severe difficulties
and challenges to date. In this situation, worldwide increases in unemployment,
wealth and asset shrinkage, along with residential, automotive
and consumer durable goods production and sales declines will make it difficult for non-ferrous metal consumption to get better in a short period of time. It is expected that during 2009 copper, aluminium and zinc, the three major non-ferrous metals, will see consumption levels at or below 24 million tons, with continued
deceleration possible.
Of course, all countries have attached great importance to the current economic crisis, with every developed country having enacted policies to stimulate capital and consumer markets. These actions could help to produce gains in the non-ferrous market.
Overall, in 2009 China's Nonferrous Metals Market Price Index will decrease substantially, with an average drop among the three main non-ferrous metals of 30% from last year being possible. In particular, zinc could see a drop of more than 40%. On the other hand, after a sustained decline in the past months, the majority of the "bubble" in the market has been squeezed out. Even if a worse economic situation is yet to come, non-ferrous metal prices will continue to drop but the absolute value of further declines will be limited.
Source: himfr.com
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