China copper traders expect imports to shrink after bumper summer inflows

China's copper imports have fueled the metals roaring price recovery from multi-year lows in March, but the traders who had brought the material into the country say they are no longer buying, Fastmarkets heard.

Records for monthly copper imports were initially smashed in June with 656,483 tonnes, only to be gazumped in July when 762,211 tonnes crossed the China border.
This comes at a time when the London Metal Exchange cash copper price rose to a two-year high of $6,858 per tonne on September 1, while premiums for shipment to China have tumbled.

Fastmarkets assessed the copper grade A cathode ER premium, cif Shanghai at $50-60 per tonne on September 4, after having been at $72-80 per tonne at...

Published

Archie Hunter

September 04, 2020

15:28 GMT

London