China July Refined Copper Imports Off Record to 292,226 T

BEIJING, Aug. 24 -- China's imports of refined copper fell to 292,226 tonnes in July from June's record 378,943 tonnes, ending five months of record inflows, data from the General Administration of Customs showed on Monday.

    China, the world's top consumer of copper and aluminium, also imported less primary aluminium in July at 131,724 tonnes, down from June's 267,861 tonnes.

    The closure of the arbitrage window -- buying at the London Metal Exchange prices and selling to Shanghai -- reduced merchants' imports of spot refined copper and primary aluminium.

    Stocks have also risen in China, with the Shanghai exchange's CU-STX-SGH copper stocks up 7 percent last week and aluminium up 9 percent.

    (Source: Reuters)