Chinese Zinc and Copper Market Analysis

Urbanization Will Continue to be a Growth Driver Regional disparity remains Urbanization Rates1 70% 60% 50% 40% 30% 20% 10% 0% LO 5 GDP Per Capita, 20162 58.5% 60.0% in 2020 20,000 in 2017 15,000 36.6% in 2014 45.0% in 2020 10,000 1980 1985 1990 1995 2000 2005 2010 2015 2020 Urbanization rate based on residency -Urbanization rate based on "Hukou" 5,000 Top 5 Bottom 5 Top 5 ■Tianjin ■Beijing ■Shanghai Jiangsu ■ Zhejiang Bottom 5 ■Shanxi Tibet ■Guizhou ■ Yunnan ■Gansu Teck

View entire presentation