China May Cu Imports Data Analysis -Shanghai Metals Market

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China May Cu Imports Data Analysis

Data Analysis 01:42:15PM Jun 12, 2010 Source:SMM

SHANGHAI, June 1 (SMM) --

Scrap Copper
According to China Customs, China's imports of scrap copper were 330 kt in May, down 11.22% from 370 kt in April.  The decline in scrap copper imports was in line with SMM expectations, and was due to waning interest in imports as copper prices fell, as well as from longer customs clearance times.

Unwrought Copper and Copper Semis
According to preliminary data from China Customs, China's imports of unwrought copper and copper semis during May were 396.7 kt, down 9.08% from 436.3 kt in April.  The SFHE/LME copper price ratio was relatively unchanged from April levels, and the month-on-month decline in imports was due largely to waning buying interest for domestic and imported goods as copper prices fell.  Since June, the ratio has increased, while the steady decline in copper prices stimulated bargain hunting.  In this context, SMM believes China's imports of unwrought copper and copper semis in June will increase.

 

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

Price

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#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

China May Cu Imports Data Analysis

Data Analysis 01:42:15PM Jun 12, 2010 Source:SMM

SHANGHAI, June 1 (SMM) --

Scrap Copper
According to China Customs, China's imports of scrap copper were 330 kt in May, down 11.22% from 370 kt in April.  The decline in scrap copper imports was in line with SMM expectations, and was due to waning interest in imports as copper prices fell, as well as from longer customs clearance times.

Unwrought Copper and Copper Semis
According to preliminary data from China Customs, China's imports of unwrought copper and copper semis during May were 396.7 kt, down 9.08% from 436.3 kt in April.  The SFHE/LME copper price ratio was relatively unchanged from April levels, and the month-on-month decline in imports was due largely to waning buying interest for domestic and imported goods as copper prices fell.  Since June, the ratio has increased, while the steady decline in copper prices stimulated bargain hunting.  In this context, SMM believes China's imports of unwrought copper and copper semis in June will increase.

 

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