China’S Imports of Copper Cathode Estimated at 260,000 Mt in February

SHANGHAI, Mar 16 (SMM) - China imported a total of 969,300 mt of unwrought copper and copper semis in January and February, down 9.3% on the year, according to the General Administration of Customs. Based on this data, China imported about 520,000 mt of copper cathode from January to February, of which 270,000 mt were imported in January and 250,000 mt in February. The average monthly imports dropped sharply from the 350,000 mt in December 2022 to 260,000 mt as the import window was closed since mid-to-late November 2022 and the shipments decreased amid the CNY holiday. Compared with the same period last year, the low SHFE/LME price ratio and the weak domestic premiums weighed on the customs declaration.