China'S Copper Imports In December Were Flat In November.

Last month, most of the time, the import cost was lower than the domestic market price, so the imported spot copper was very attractive, though consumption was global.

The impact is down.

Analysts and traders expect that in December, refined copper imports amounted to about 140000 tons, or 141728 tonnes in November, with a minimum forecast of 120000 tons.

According to analyst Zhu Yanzhong, "in view of the current price, the volume of refined copper imports in December should be around 140000 tons."

He added that imports were guided by price factors and did not really reflect domestic demand, because demand remained weak in the past few weeks.

"Local prices may be slipped later, because factories are already closed and workers are coming home for the lunar new year."

China's Lunar New Year is January 26th this year.

LME three month copper fell 15% in December, lower than the 18% decline in China's spot market.

Lun copper prices were lower than domestic copper prices in some trading days in December.

It is expected that China Customs will announce the import data of unfinished copper and copper semi manufactured products in January 9th or 12, and the more detailed report will be released later in the next few days. The total share data of refined copper will be released at the end of the month.

A trade manager at a large smelter said, "demand is very weak.

Our three largest customers said that the number of orders has decreased by 30% since November. "

But traders say large traders also restrict Shanghai's import of copper, driving spot prices up and creating opportunities for imports.

China's first and third largest copper producers, Jiangxi copper and Yunnan copper, also refined copper supply in December, due to equipment maintenance.

Tongling nonferrous top executives said that although the current domestic demand is insufficient, there is no plan for refining copper production.