China's Copper Imports May Slow on Rising Scrap, Minmetals Says

BEIJING, May 8 -- Refined copper imports by China, the world's largest metals consumer, will slow over the remainder of this year as scrap supplies improve, said an official from China Minmetals Nonferrous Metals Co., the country's largest trader.

    Average quarterly refined imports will fall from the first three months, when China's imports reached a record, as average scrap purchases may rebound, said Ma Xiaoqin, deputy-general manager of the copper department at Minmetals.

    Imports of refined copper may rise 34 percent to 1.95 million metric tons in 2009, Ma said at a conference in Beijing today. China bought 40 percent of the estimated amount in the first quarter, she said.

    Copper concentrate purchases may rise by 4 percent to 5.33 million tons, this year, Ma said.

    (Source: Bloomberg)