China’s Renewables Growth Lifts Copper Demand as Housing Falters

Imports have risen 8.1% this year, while purchases of ore for the domestic smelting industry have climbed 9%. Photo: Bloomberg

(Bloomberg) — China’s rapid build-up of clean energy is claiming more copper, supporting the market at a time when traditional sources of demand like housing are in the dumps.

Copper imports are one of the few bright spots in an otherwise bleak picture for Chinese commodities consumption. Underpinning some of that demand is a long-anticipated shift in usage to feed growth across new energy sectors, from the construction of massive wind and solar projects in the interior, to the country’s electric-vehicle (EV) boom.