2009 March Cu Imports Data Analysis (Preliminary)

SHANGHAI, Apr. 17 (SMM) --
Scrap Copper:
According to China Customs, China's scrap copper imports were 330 kt in March, down 38.86% YoY. YTD imports were 730 kt, down 47.60% YoY. In February, China's scrap copper imports were 220 kt. As predicted by CBI analysts, China's scrap copper imports in March were up, but still at low levels. Copper prices have continued to rise since mid-March, which improved market confidence. Importers were actively looking for overseas supplies, hoping to build stocks at current low prices. In this context, CBI believes China's scrap copper imports during April will increase from March levels, with volumes expected to be 350-400 kt.
Unwrought Copper and Copper Semis Products:
According to the preliminary import and export data for March released by China Customs, imports of unwrought copper and copper profile were 375kt during March, with cumulative imports from January to March 937kt, up 32.9% YoY. As imports of copper profile and crude copper experienced continuous declines, actual import volumes of refined copper during March should exceed 300kt, a record high. Copper imports are expected to increase further in April, but should drop during May as scrap copper imports recover and as domestic capacity increases.

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