Chinas copper imports increased 26.4 percent in October
from a year earlier, reflecting a resurgent Chinese economy and
renewed demand for copper financing.
Imports of unwrought
copper and fabricated copper products totaled 406,708 tonnes
last month, down 11.2 percent from September due partly to the
long holiday at the beginning of October, according to
preliminary customs data.
"Financing demand is
robust and has rallied recently due to tighter credit at the
end of the year," one domestic trader said. "I expect import
numbers will increase next month. The (Shanghai Futures
Exchange/London Metal Exchange) arbitrage is not favorable for
importing, but vigorous financing demand will support
Spot copper premiums in Shanghai were between $185 and $200
per tonne in October, indicating tight supply supported by
A version of this article was first published by AMM sister
publication Metal Bulletin.