Goldman Sachs predicts the restoration of demand from China for metallurgical raw materials before the end of this year

Demand for metallurgical raw materials in China will be restored until the end of 2013. The consumption of iron ore, copper and tin will grow rapidly, since infrastructure projects gain pace and force metallurgists to replenish reserves. This is stated in the fresh report of the analytical bureau Goldman Sachs Group Inc.

The key factor affecting demand growth is the number of investments in infrastructure projects, said Goldman Sachs representative Julian Zhu at a briefing in Singapore.

In addition to the growth of consumption of raw materials, Chinese metallurgists will be able to raise steel prices in December 2013, added Mr. Julian.

“From this moment until the end of this year, we expect the demand for raw materials in China to be restored. The current level of reserves in China is still quite low and inevitable of their replenishment will cause a demand increase,” Julian Zhu told reporters.

Meanwhile, the American bank Merrill Lynch today revised its own forecast for China’s economy for the better. The bank says that China will grow by 7.7 percent in 2013 against 7.6 percent in the past.