Unformatted text preview: times the current usage of copper in extra cabling and winding than previous cars. The price of copper is expected to rise 26% percent by the end of 2012 with China being the biggest buyer. Last year in December alone China imported 508,942 tons of copper. China accounts for 40% percent of the world’s consumption of copper, in which they use it for wiring, plumbing, electronics and automobiles. With China having such a demand for copper prices are predicted to jump from $ 7,600 which was the price at the end of 2011 to $9,500 by the end of 2012. With China controlling majority of the market 2012 predicts to be a great year for their economy. 2012 is also the year of the dragon, and is considered the luckiest year by Chinese culture. So expect big things from China....
View Full Document
- Spring '11
- Economics, japan, Internal combustion engine, Automobile, Electric vehicle