SHANGHAI, Jul. 28 (SMM) – Customs data showed China imported 255,100 mt of refined copper in June, inching up 0.01% on the year, and down by 7.38% from May.
The SHFE/LME copper price ratio rose above 7.25 in June, but imports declined MoM due to tight mid-year liquidity. The import numbers managed to post a marginal rise on YoY basis due mainly to low imports in June 2014 resulting from limited supply from Chile and falling premiums on imported copper.
Total imports in the first half of the year dropped 10.76% YoY to 1.68 million mt, a reflection of poor copper demand from both downstream producers and financing trades.