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News

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Imports of copper in China drops second straight month

Imports to China copper and its semi-finished products in May 2010 amounted to 396.712 tons, which is 9.1% lower than in April (436.500 tons.) And by 6.1% -. The results of the same period last year (422.670 tons.). The import of the «red metal» in China is falling for the second month in a row a consequence of sufficient domestic supplies and the prospects of weakening demand. Stocks on the Shanghai Futures Exchange have reached the end of May has increased by about 60% compared with the beginning of the year.

Deliveries as scrap copper and waste on the market of China amounted to 330 thousand tons in May, while in April it was 371.705 tons, a year ago -… 328.265 tons.

During the first five months of this year, imports of copper and products based on it in China reached 1.9 million, increased by 8.2% compared with January-May 2009 imports as scrap and waste grew by 15% to 1.68 million tons.

According to analysts, in the near future may further decrease the import of copper due to weakening demand and increased supply in the market.

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