Copper output leap seen hitting imports, prices

Nov 21, 2007 | 06:59 AM |

China's copper production in October reached its highest level this year, making it increasingly likely that imports—and prices—will continue to fall, traders and analysts said.

Chinese copper output rose to 358,000 tonnes in October, up 16.5 percent from September and 42.5 percent from October last year, according to China's National Bureau of Statistics.

The leap in production will further impair Chinese imports of the red metal, which have been dropping anyway as a result of high inventories, market players said. "Chinese demand for copper plays an important role in the world, and the increase in the country's copper output may lead to a decline in imports," a Jiangsu-based trader said.....

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