SHANGHAI, Jun. 17 (SMM) – China’s refined copper imports are expected to fall to 280,000 tonnes in May, Shanghai Metals Market foresees.
The decline was attributable chiefly to less incentive to import, arising from downward pressure on premiums for imported copper from mounting bonded inventories, SMM understood.
Improving copper consumption in Europe also resulted in lower imports by China.
In addition, imports from Chile returned to normal in May following deliveries of delayed goods in April, also partly blamed for the drop in imports.