2009 June Cu Imports Data Analysis
SHANGHAI, Jul. 24 (SMM) --
Refined Copper:
China's imports of refined copper were 378.9kt during June, up 400% YoY. YTD imports were 1.78 million mt, up 160% YoY. Copper imports in June reached a new high, due mainly to tightness of domestic scrap copper supply. In addition, significant growth in China's output of copper semis also stimulated market demand for refined copper. However, the SHFE/LME copper price ratio has fallen since June, so refined copper imports will likely fall during July.
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