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China's Copper Imports Hit 475,999 tons in Jun

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BEIJING, July 13 -- China imported 475,999 tons of unwrought copper and semi-finished copper products in June, compared with 422,666 tons in May, according to data released by China's General Administration of Customs over the weekend, sources reported.
&nbsp;&nbsp;&nbsp; The import volume increased by 174% year on year in June and set another new record.
&nbsp;&nbsp;&nbsp; However, China imported 280,000 tons of copper scrap in June, 50,000 tons less than a month earlier.
&nbsp;&nbsp;&nbsp; In the first six months of this year, China's imports of copper scrap fell 39.8% from 3.22 million tons in the corresponding period of 2008. The imports of copper scrap included copper raw materials and copper rods.
&nbsp;&nbsp;&nbsp; An industrial research report on copper scrap imports in the first quarter of this year showed that the decreasing imports were caused by the shrinkage in the overall supply of copper amid the global financial crisis and by the decreasing prices of refined copper relative to copper scrap.
&nbsp;&nbsp;&nbsp; Nevertheless, China's imports of unwrought aluminum and semi-finished aluminum products reached 2.23 million tons in the first half, representing a 69% growth.
&nbsp;&nbsp;&nbsp; China's imports of copper products may retreat in the third quarter of this year, said Judy Zhu, a commodity analyst in Standard Chartered Bank (China), explaining that China already has plenty of copper stockpiled.
&nbsp;&nbsp;&nbsp; (Source: China Knowledge) 
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[Cu] Summary - 2009/7/13 Scrap Copper Market

China's Copper Imports Hit 475,999 tons in Jun | Shanghai Non ferrous Metals

China's Copper Imports Hit 475,999 tons in Jun

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