2009 October Cu Imports Data Analysis (Preliminary)-Shanghai Metals Market

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2009 October Cu Imports Data Analysis (Preliminary)

Data Analysis 05:48:40PM Dec 08, 2009 Source:SMM

SHANGHAI, Nov. 13 (SMM) --
Scrap Copper:
According to preliminary data released by China Customs, China's imports of scrap copper were 260kt during October, down 36.85% MoM, and down 36.04% YoY.  YTD imports were 3.25 million mt, down 32.8% YoY.  China's imports of scrap copper was down significantly during October, lower than CBI's previous forecast of 300-350kt, and was due mainly to the low SHFE/LME copper price ratio and a reluctance on the part of scrap copper traders to replenish stocks.  As trading sentiment in scrap copper markets remains negative in November, importers will not likely import goods given high copper prices and possible declines in market consumption.   In this context, China's imports of scrap copper are expected to be 250-300kt during November.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

 

2009 October Cu Imports Data Analysis (Preliminary)

Data Analysis 05:48:40PM Dec 08, 2009 Source:SMM

SHANGHAI, Nov. 13 (SMM) --
Scrap Copper:
According to preliminary data released by China Customs, China's imports of scrap copper were 260kt during October, down 36.85% MoM, and down 36.04% YoY.  YTD imports were 3.25 million mt, down 32.8% YoY.  China's imports of scrap copper was down significantly during October, lower than CBI's previous forecast of 300-350kt, and was due mainly to the low SHFE/LME copper price ratio and a reluctance on the part of scrap copper traders to replenish stocks.  As trading sentiment in scrap copper markets remains negative in November, importers will not likely import goods given high copper prices and possible declines in market consumption.   In this context, China's imports of scrap copper are expected to be 250-300kt during November.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn