Imports in March Continued to Recover Seasonally but were not as Good as the Same Period Last Year

SHANGHAI, Apr 19 (SMM) - China copper semis imports are estimated at 41,300 mt in March, up 39.1% MoM but down 6% YoY. The imports totalled 99,700 mt in January-March, down 18.8% YoY.

The predicted exports in March are 59,500 mt, up 25.8% MoM but down 2.1% YoY. The imports totalled 164,800 mt in January-March, down 8.3% YoY.

SMM expects copper imports to rise sharply in March mainly owing to seasonal recovery, while the weak domestic demand is the main factor leading to the year-on-year decline in imports. The imports of copper rod and wires stabilised at 22,800 mt in January and February. The imports of copper sheet/plate and strip, foil, and tube stood at 12,700 mt, 20,000 mt, and 2,500 mt respectively in January and February, down 25.8%, 41.2% and 45.7% YoY, as is shown by the data from General Administration of Customs. The sharp year-on-year decline in imports showed that the domestic demand was really weak.