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ECI Annual Report 2011

2011 was a challenging year for the copper industry. Largely as a result of low activity levels in many national construction markets, the International Copper Study Group* expects EU27 refined copper usage to be slightly below the 2010 total of 3.33 million tonnes. Demand in the rest of Europe will increase by 35%, driven mainly by Russian tariffs which favoured the export of wire-rod over cathodes. Globally, refined demand will be close to 20 million tonnes, up 3.6% on 2010.