SHANGHAI, Aug 26 (SMM) — Domestic copper consumption recovered rapidly in the second quarter, while the supply tightened as smelters underwent maintenance. The supply gap was supplemented by imported copper, with traders actively shipping copper cathode to the domestic market. Most of these cargoes arrived during June-July.
Customs data showed that China imported 555,000 mt of copper cathode in July, up 14.24% from June and 89.93% from a year ago, and imports totalled 2.48 million mt in the first seven months of this year, rising 33.74% from the same period last year.
China’s copper cathode exports fell 4.63% on the month and 67.44% on the year to 10,400 mt in July, and totalled 134,000 mt in January-July, down 37.3% from the same period last year.