Bearish Price Outlook Dampens Copper Imports in Jan. with Further Drop Expected in Feb.

Mar 6, 2015 16:04

Source:SMM

China’s imports of unwrought copper and copper semis declined 24.46%year-on-year to 300,200 tonnes in January, Customs data indicate, and SMM sees further decline in February.

SHANGHAI, Mar.6 (SMM) – China’s copper imports declined 24.46% year-on-year to 300,200 tonnes in January, Customs data indicate, and SMM sees further decline in February.

The import volumes in January were also lower than December 2014.

Copper prices have stayed low last December and markets were pessimistic about prices in the future, cooling importing enthusiasm.

Furthermore, most Chinese importers were busy with settlement by the end of 2014, driving down arrivals in January as well.

Import numbers of copper look set to fall further in February, affected by the Chinese New Year holiday, SMM predicts.

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China copper imports

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Bearish Price Outlook Dampens Copper Imports in Jan. with Further Drop Expected in Feb.

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