wiredinUSA October 2011

INDEX

Picture : Alessandro Paiva

ASIA & AFRICA NEWS

China’s copper imports up for third month

after China’s summer when tight electricity supplies limit use by fabricators and end-consumers. A further gain in shipments to China would support copper prices in London, where the metal has fallen eight per cent this year. “The rising arrivals in recent months is a confirmation that China needs to return to the market after domestic stockpiles depleted in the first half, but the pace of imports may be hampered by an overall slowdown in economic activities,” said Jia Zheng, a trader at Shanghai East Asia Futures Co.

Copper imports by China, the biggest user, climbed for a third month in August as buying of the metal in London and selling in Shanghai increased ahead of an expected rise in demand. Inbound shipments of the refined metal, copper alloy and products increased 11 per cent to 340,398 metric tons from 306,626 tons in July, the general administration of customs stated on its website. August imports were the highest since January, and 10 per cent less than the 379,527 tons of a year earlier. Demand for the metal usually increases between September and November,

ASIA / AFRICA NEWS

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wiredInUSA - October 2011

wiredInUSA - October 2011

49