SHANGHAI, Mar. 27 (SMM) – Copper ore imports (including copper concentrate) in the first two months of 2013 totaled 59 batches, with 265,000 mt, and total value of USD 530 million, up 168.2%, 184.3% and 185.5% respectively on a YoY basis. Both import volume and value hit record highs. That is due mainly to geographic advantages of Lianyungang. As software and hardware of Lianyungang improve and comprehensive ability of Lianyungang Entry-Exit Inspection and Quarantine Bureau increases, the port of Lianyungang became more and more efficient, and this prompted domestic market players to import through Lianyungang.
Baiyin Nonferrous Metal Company and Jinchuan Group are the major two smelters importing copper ore through Lianyungang, with import volume accounting for about 90% of total domestic imports. Copper (concentrate) ore imports soared due mainly to rising TC/RC for copper (concentrate) ore. TC/RC in 2013 is generally higher than 2012 levels, and this increased profits at smelters and allowed them to import copper concentrate in large amount. Meanwhile, with expectations of improving economy, smelters are optimistic towards China’s demand, so they began to build stocks. (Edited by SMM)