The China Copper Demand Index in June 2019 reached at 105.2 points, a rise of 9 points month-on-month. In June, the index wandered in the "heated" range (greater than 104.2 points), indicating a brisk demand for copper in China in the month. China copper demand index reflects the prosperity level of the copper end-use market. Because the absolute index values are presented in the form of month-on-month changes, the index compares the prosperity level with the previous month.
Figure 1 China Copper Demand Index for Jan 2017-June 2019
Data: China's National Bureau of Statistics and General Administration of Customs
In June 2019, China's copper demand remained "heated", higher on both month-on-month and year-on-year bases. A major contributor was the increasing statistic values. Among the 52 macro and copper end-use section indicators under the umbrella of this index after seasonal adjustments. The current new capacity of thermal power generating facilities, the current new capacity of wind power generating facilities, the cable and wire output, and the transformer output among other indicators all recorded double-digit growth, leading to a rise in copper demand in China in June 2019. In addition, half of the indicators posted positive growth in June 2019, while 35% of them reported negative growth in the same period last year, which boosted the year-on-year growth of copper demand in China in June 2019.