After a steep drop in the second half of 2011, copper could see a rebound in coming years. And once again the industrial metal could have China to thank.
Bloomberg reports that copper demand from China's energy industry is likely to rise substantially in the next few years, particularly as the country has invested heavily in the renewable energy sector.
"The future of power cable will be submarine," Tanudjojo said. "China has put a lot of efforts into renewable energy, and one of the areas which is considered to have the maximum growth potential is offshore wind farm."
These kinds of wind farms require extensive copper cabling to bring electricity back to shore.
China is now the second largest economy in the world and the fastest growing, making it a key driving factor in the reddish metal's demand. Through much of the last decade demand growth remained in double digits, before falling to a projected 4.7 percent this year.
At 9:33 a.m. copper stood at $3.841 per pound, down 2.9 cents, or 0.75 percent.
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