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China Oct copper imports increase as demand outlook brightens

China's imports of unwrought copper rose in October from a year earlier, customizeds information showed on Thursday, boosted by improving seasonal demand and a much better outlook for intake of the industrial metal.

Imports of unwrought copper and items were 506,000 metric heaps last month, up 1.1% from the corresponding duration last year, data from the General Administration of Customs revealed.

September and October are generally a strong need period for industrial metals as manufacturing activities get after the summer lull, while the Golden Week vacation in October bolstered travel and intake of items.

Government financial stimulus in September likewise lightened up the need outlook for the metal utilized in power, building and construction and transport, driving international costs higher.

China's production activity broadened in October for the first time in 6 months, main data revealed recently.

Solutions activity worldwide's second-largest economy also broadened at the fastest speed in 3 months in October, a. private-sector survey showed today.

Domestic stocks declined in August and September,. prompting more buying of overseas freights.

The premium for copper delivered to warehouses in the. eastern port of Yangshan, a commonly watched indicator of China's. import cravings, peaked at an intra-year high of $69 per heap in. early October, before declining to $48 per load last week. << SMM-CUYP-CN >

The October figure was up from the 479,000 lots imported in. the previous month.

The information includes anode, refined, alloy and semi-finished. copper items.

For the very first 10 months of 2024, copper imports were up. 2.4% at 4.6 million heaps, the data showed.

China produced 10.04 million tons of refined copper in the. initially 9 months this year, up 5.4% from the same period a year. previously, the data bureau's data showed.

Imports of copper concentrate last month stood at 2.31. million heaps, up 0.2% from a year earlier, custom-mades data revealed.

Copper concentrate imports amounted to 23.36 million loads for. the first 10 months, up 3.3% from a year earlier.

(source: Reuters)