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Chinese copper scrap imports stage surprise rebound in June

July 12, 2010 - 04:30 GMT Location: Shanghai

KEYWORDS: China , copper scrap imports , June

China's copper scrap imports surprised the market by rebounding in June despite stricter customs regulations and inspections.

Imports jumped by 7.1% from May to 350,000 tonnes in June, up 25.5% year-on-year, according to preliminary customs data. "The rebound is totally unexpected, as most traders were expecting stricter customs rules to undermine imports," said a copper scrap importer in Guangzhou. "A possible reason us that maybe we are destocking materials stockpiled at local ports or bonded warehouses," he added. Chinese customs announced back in April that from June 1, it may stop shipments into the country that mix different types...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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