Home / Metal News / Copper / China Cu Imports Data Analysis in January 2011
China Cu Imports Data Analysis in January 2011
Feb 21,2011 16:20CST
data analysis
Source:SMM

SHANGHAI, Feb. 21 (SMM) –

Refined Copper
According to China Customs, China's imports of unwrought copper and copper semis were 364.2 kt in January, up 19.6 kt from December's 344.6 kt, up 5.71% MoM, and up 24.70% YoY.

Four main reasons were behind the higher imports.  First, both copper processing enterprises and downstream producers replenished goods before the Chinese New Year holiday period, increasing demand for imported copper. Second, optimism towards post-holiday prices also boosted speculative buying. Third, the SHFE/LME copper price ratio in January improved slightly to between 7.4--7.5, an improvement from December.  Fourth, many cargo-holders of imported copper offered premiums between USD 25-30/mt for imported copper due to cash flow pressure, attracting buying interest.

Since February, market sentiment remains low due to the Chinese New Year Holiday, keeping transactions in the imported copper market quiet. As a result, China's imports of unwrought copper and copper semis should fall in February to levels around 250 kt.

 

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

China Customs
copper Cu

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn