Imports of Unwrought Copper and Semi-finished Copper Products Grows by 10.68% in August

SHANGHAI, Sep. 15 (SMM)—

Imports of unwrought copper and semi-finished copper products in China were 0.3795 million mt in August, increasing 36.6kt from July’s 0.3429 million mt, up 10.68%.

SMM believes that buying interest in refined copper importing market was low due to unfavorable SHFE/LME copper price ratio, but import volumes of refined copper increased in August since delivery time was generally due in August. Besides, demand for copper improved in the wake of a peak season, leading to increasing domestic imports for semi-finished copper products. Generally speaking, the imports for unwrought copper and semi-finished copper products showed an upward trend in August.

SMM expects that imports for unwrought copper and semi-finished copper products will be in the 340-410kt range in September, given further rallies in copper consumption in September and the better transactions in copper importing market compared to August.

(Edited by SMM)