SHANGHAI, Oct. 21 (SMM) – China’s copper concentrate imports hit a record high of 1.29 million tonnes in September, Customs data indicate, up 34.36% from August, and rising 271,700 mt from a year ago.
Copper smelters stockpiled raw materials in advance as they will cut spot buying in Q4 to better their positions in the upcoming negotiations for 2015 TC/RCs, and as new smelting capacities will come online in the fourth quarter. In addition, some copper smelters had asked to put off delivery of term shipments to late September considering ample stocks on hand, driving up September’s inbound shipments.
China imported 8.58 million tonnes of copper concentrate in the first nine months of this year.
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