CRU: global insulated metal wire and cable demand increased by 0.9% in 2019

According to CRU's report, a commodity research firm, global demand for insulated metal wires and cables will grow by just 0.9% year-on-year to 19 millons tonnes (by conductor weight) in 2019. This is due to weaker-than-expected demand in many of the world's major consumer markets.

China, which accounts for 35 per cent of global consumption, will grow at an all-time low of 1.6 per cent year-on-year in 2019, mainly due to a sharp downturn in the automotive sector and a slowdown in investment in power grids. In addition, India's overall economic weakness, combined with a contraction in car production, has pushed CRU demand forecasts lower. In Europe, cable demand is expected to fall in 2019, led by a sharp decline in Germany, as the auto industry contracts strongly. At the same time, north American markets are also falling on a more pessimistic view of U.S. economic growth.

Combined with concerns about the health of the global economy, CRU's outlook for 2020 is even more bearish. "Instead of expecting a strong rebound in 2020, we expect cable demand to grow by only 1-2 per cent year-on-year in conductor tonnes," CRU said.

Beyond that, CRU remains optimistic about medium-term growth in cable demand. CRU expects compound annual growth in demand for insulated metal wires and cables to remain healthy between 2019 and 2024, roughly the same as between 2014 and 2019, underlining the overall stability of the industry despite short-term volatility.
CRU sees continued construction, utility and industrial investment in emerging economies such as India, the asean region and the African continent as opportunities for insulated metal wires and cables around the world.

Remark: CRU, it mean is "Commodity Research Unit". CRU is the world's leading analytical body in the mineral, metal, wire, cable and fertilizer industries, providing independent and authoritative professional services to all stakeholders, producers, buyers, suppliers, investors, Banks and governments. It has 250 specialists, including economists, management consultants, engineers, metallurgists, geologists, chemists and media professionals. Headquartered in London, it has offices in Beijing, Santiago, Rio DE Janeiro, Sydney and major cities in the United States. 

CRU monitors global markets and provides you with up-to-date information and objective analysis on production, consumption/supply-demand balance, future trends, inventory, prices, and related industry news.
CRU provides a series of market analysis reports, most of which are published monthly, called the CRU monthly report. There are mainly six monthly reports translated into Chinese, which are: monthly report of steel raw materials, monthly report of sheet metal, monthly report of copper raw materials, monthly report of copper, monthly report of alumina, monthly report of aluminum.

(News Sources: http://news.cableabc.com/gc/20191227760581.html )