SHANGHAI, Aug. 27 (SMM) – China’s refined copper imports fell 10,000 tonnes on the month to 245,000 mt in July.
Some foreign suppliers eschewed selling to Chinese importers as premiums for copper shipped to Shanghai fell below those to other regions.
However, shipments from Chile, which had fallen May-June, edged up in July.
The change in bank L/C issuance policies collateralized against copper is still dampening imports, but SMM expects limited decline in copper imports in August, with volumes around 250,000 tonnes.
Aggregate imports for the first seven months hit 2.13 million tonnes, with growth slowing to 27.9%.
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