SHANGHAI, Dec. 2 (SMM) – China’s copper concentrate imports dropped 25.87%, or 333,700 tonnes, in October, to 956,300 tonnes. January-October import volumes grew 17.19% to 9.5 million tonnes.
Lower copper prices have caused some foreign mines to delay deliveries on some long-term contracts. Moreover, Chinese smelters built up large input inventories in September to enhance their position in the 2015 TC/RC negotiations. This allowed many smelters to cut import volumes significantly in October. SMM expects a rebound in import volumes for November as previously delayed shipments arrive at Chinese ports.
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