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China Jan copper imports fall 2.2 pct m/m

2018-02-08 14:10:58

Reuters

China's unwrought copper imports fell for a second straight month in January as winter restrictions on the construction sector and high domestic production rates continued to crimp demand for metal from overseas.
 
Last month's imports of unwrought copper, which includes anode, refined, and semi-finished copper products, stood at 440,000 tonnes, according to data from the General Administration of Customs on Thursday.
 
That is down 2.2 percent from December's 450,000 tonnes to the lowest monthly level since October, but is still well above the 2017 average and 15.8 percent higher than the 380,000 tonnes imported a year ago.
 
December imports had fallen by 4.3 percent from November, the country needing less foreign metal in a month when its refined copper output hit a record 865,000 tonnes, according to the National Bureau of Statistics.
 
The December production jump defied curbs imposed on the operations of northern Chinese smelters, which - like broad anti-smog measures in place in the north of the country - are due to be lifted on Mar. 15.