SHANGHAI, Dec. 27 (SMM) –
Refined Copper Supply
China’s apparent consumption of refined copper was 672.1 kt in November, up 18.27% MoM and up 11.22% YoY. While spot TC of copper concentrate was above USD 100/mt in November, smelter production increased, resulting in significant increases in imports of copper concentrate during November. Meanwhile, downstream orders grew as copper price fell, resulting in higher apparent consumption. In addition, imports of refined copper increased along with the improved price ratio, one major contributor for higher refined copper apparent consumption in November. YTD apparent consumption of refined copper from January to November was up 3.44% on a yearly basis.
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