SHANGHAI Chinese copper
imports fell 27.2 percent year on year and 7.4 percent month on
month in April as open arbitrage failed to draw in enough
April imports of unwrought
copper and copper fabricated products totaled 295,799 tonnes,
according to preliminary Chinese customs data released May
Copper scrap imports slipped to
340,000 tonnes in April, down 4.6 percent year on year and 2.9
percent month on month.
"While spot import arbitrage
opened in late February, imports did not show a commensurate
increase," according to Sijin Cheng, a Singapore-based analyst
at Barclays Bank Plc, London.
Tight scrap supply due to lower copper prices and stricter
customs inspections prompted some smelters to cut output in
late April, Cheng said.
A version of this article
was first published by AMM sister publication Metal