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China imports of unwrought copper, copper semis in May decline 23% YoY

Metal News - Published on Tue, 11 Jun 2019

Image Source: Financial Tribune
SMM reported that China's imports of unwrought copper and copper products in May decreased by 11% on the month and by 23% on the year, and stood at 361,000 tonne, showed data from China Customs on Monday June 10. This lowered the imports in January-May by 9.4% from a year ago, to 1.95 million tonne. The year over year decline rate expanded from 5.26% in January to April.

A closed import arbitrage window deterred imports of refined copper, which accounted for some 70% of the total imports of unwrought copper and copper semis in May. The import window temporarily opened in the first half of May, and only triggered a small influx of imports to the domestic market.

Domestic supply of refined copper is expected rebound in June as smelters recover from concentrated maintenance. This, together with a new smelting capacity of 500,000-600,000 mt that will come online in the second half of the year, will continue to pressure on demand for seaborne copper.

Source :

Posted By : Rabi Wangkhem on Tue, 11 Jun 2019
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