Last Updated : 03 November 2012 at 15:15 IST
Copper may benefit from pick up in China’s home appliance sales: Barclays
Source :Barclays Capital/Commodity Online
Chinese official data show that refrigerator, air conditioner and washing-machine production rose 8%, 14% and 25% year-on-year, respectively, in September
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BEIJING (Commodity Online): Increased output of home appliances in China bodes well for copper, helped by demand around holidays in the country, said Barclays Capital in a commodity research note.
According to the British bank, Chinese official data show that refrigerator, air conditioner and washing-machine production rose 8%, 14% and 25% year-on-year, respectively, in September.
"Although demand was amplified by the holiday effect, September data suggest that more positive signals are emerging from one of the worst-hit sectors this year," they continued.
"While physical traders report that spot copper sales remain weak, the continued improvement in the downstream sector increases the chance that restocking will help to lift copper demand," Barclays concluded.
