SHANGHAI, Nov. 1 (SMM) --
China’s apparent consumption of refined copper was 643.7 kt in September, down 20 kt MoM, a drop of more than 3% YoY. When China’s refined copper output maintained strong growth, significant declines in refined copper imports were the main reason behind falling apparent consumption of refined lead. Although the SHFE/LME copper price was still low in October, the ratio improved slightly from September levels. As China’s refined copper output is expected to remain stable in October, SMM believes refined copper apparent consumption in China will grow in October.
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