Latest News

China's copper imports rose again in August

China's copper imports grew in August for the second month running as an Indonesian mine increased exports in anticipation of its expiration later this month.

Data from the General Administration of Customs revealed on Monday that copper concentrate imports increased 8% to 2,76 million metric tonnes in August, compared with 2,56 million a year earlier. Ore is a major feedstock for copper-smelters.

Analyst and traders say that Miner Freeport Indonesia has increased shipments in anticipation of the expiration date for its export license, September 16.

Last month, the miner claimed that it would be able to export 90% of their 1.27 million tonne quota before the deadline. By mid-August, it had reached 65%.

China imported 20.05 million tons of copper concentrator in the period from January to August, compared with 18.59 million tons during the same time last year.

The data shows that imports of copper dropped 11.5% from a month earlier, to 425,000 tonnes.

Imports of unwrought copper, as well as copper products, into China, which is the world's biggest consumer and producer include anodes and refined metals, alloys, and semi-finished Copper Products.

In August, China exported 534,000 tonnes of aluminium products and unwrought aluminum, including alloys, primary and semi-finished products. This is down from the 542,000 tonnes in July. Reporting by Amy Lv in Beijing and Lewis Jackson; editing by Christopher Cushing

(source: Reuters)