SHANGHAI, Dec. 27 (SMM) –
According to China Customs, China’s imports of copper concentrate were 552.8 kt in November, up 17.07% MoM and up 12.36% YoY. Enthusiasm from domestic copper smelters for imports was improved by spot TC of copper concentrate above USD 100/mt in November, and from a slight improvement in the price ratio after copper price declines in mid and late November. In addition, copper smelters needed to replenish goods for production due to the lower import volumes during October and consumption of existing inventories.
According to China Customs, China’s imports of refined copper were 232.3 kt in November, up 36.73% MoM and up 18.84% YoY. An improved price ratio in November and the year-end deadline for imports were the main reasons behind higher import volumes of refined copper in November.
According to China Customs, China’s imports of copper semis were 71.7 kt in November, up 4.9 kt from October’s 66.8 kt and up 1.80% YoY. Low import volumes during October allowed November imports to surge by 7.34% MoM, while YoY growth was only 1..80%. The moderate YoY growth was closely related to expanding domestic capacity of copper semis, which is now able to meet most domestic demand.
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