14 OCT 1, 2015 11:31 AM EDTBy Barry Ritholtz
According to data assembled by visual capitalist, China consumes 54 percent of the world’s aluminum production, 48 percent of all copper, 50 percent of nickel, 45 percent of steel and 60 percent of concrete. It has “consumed more concrete in the last three years than the United States did in all of the 20th century.”
In terms of energy, China uses 49 percent of the world’s coal, 13 percent of the uranium and 12 percent of oil. It’s the same with food: 30 percent of the world’s rice, 22 percent of its corn and 17 percent of wheat.
China was one of the big reasons for the commodity surge in the 2000s. The country’s growth has now been cut in half, and that’s why prices are now back to the levels of the 1990s.
Raymond W. Monroe Executive Vice President Steel Founders' Society of America 780 McArdle Dr. Unit G Crystal Lake, IL 60014 USA Tel: 815-263-8240 Fax: 815-455-5312