China Dec Copper Concentrate Imports Up 19.3% At 460,000 Tons
Thu, Jan 15 2009, 02:38 GMT
fxstreet.com
China Dec Copper Concentrate Imports Up 19.3% At 460,000 Tons
BEIJING (Dow Jones)--China imported 460,000 metric tons of copper concentrate in December, preliminary data provided by the customs department showed Thursday.
Total imports in the full year of 2008 rose 14.7% on year to 5.19 million tons, it said.
December copper concentrate imports rose 19.3% on year and 12.5% on month. In 2007, December copper concentrate imports rose just 4.4% on year.
The bounce in December reflects a tight supply situation in the domestic copper market, analysts say.
Spot copper premiums had also been widening over London prices from late November through December, fueling what analysts said was a surge of arbitrage-driven imports that did not reflect a revival in demand fundamentals.
-By Chuin-Wei Yap, Dow Jones Newswires; 8610 6588 5848; chuin-wei.yap@dowjones.com
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(END) Dow Jones Newswires
January 14, 2009 21:38 ET (02:38 GMT) |
