Copper demand prospects in the Gulf Cooperation Council states
Outside China, the Gulf Cooperation Council states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE represent the most dynamic growth market for copper. 90% of copper use in the region is in the form of insulated wire and cable. Growth has been spurred by multiple end use demand drivers which should deliver reasonably fast and predictable growth, even during a period of low oil prices. Reduced supplies of cheap Russian wire rod should incentivise new rod projects within the region.