SHANGHAI, Dec.8 (SMM)－China’s imported unwrought copper reaches 470,000 tons in November, up 24% on yearly basis, setting new high since December 2016, according to data from General Administration of Customs.
China’s imported unwrought copper reaches 4.24 million tons in from January to November, down 5% on yearly basis.
SMM believes the major reasons of surge in imported unwrought copper in November lie in below two factors:
Firstly, imported copper spot has been in profitable status from October to early November, which is the major factor to stimulate import.
Secondly, China’s imported unwrought copper is 3.76 million tons from January to October, down 7.8% on yearly basis. The drop during first ten months leads to more volume at year-end.
The data also shows China’s imported copper ore and its concentrate reaches 1.78 million tons in November. From January to November this figure is 15.7 million tons.
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