Saturday, October 23

China September copper imports post first gain in five months


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China’s copper imports rose in September from the previous month, customs data showed on Wednesday, snapping a run of five straight monthly declines as shipments held up by coronavirus pandemic curbs arrived in the country.

Arrivals of unwrought copper and products into top copper consumer China were 406,016 tonnes in September, the General Administration of Customs said.

That was up 3% from 394,017 tonnes in August – the lowest import figure since June 2019 – but still down nearly 44% from September 2020, which was the second-highest monthly total on record.

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In the first nine months of 2021, China’s copper imports were down 19.5% year-on-year at 4.1 million tonnes.

Imports of copper concentrate, or partially processed copper ore, were 2.11 million tonnes in September, the highest monthly level since March, customs said.

That was up 11.9% from 1.886 million tonnes in August but slightly down from 2.138 million tonnes in September 2020, the second-highest monthly total on record.

Exports of unwrought aluminum and products, meanwhile, were at 491,985 tonnes in September, the highest monthly level since March 2020.

Exports were up slightly up from 490,286 tonnes in August, and up 15.4% year-on-year. (Reporting by Emily Chow and Tom Daly; Editing by Christopher Cushing and Richard Pullin)



financialpost.com

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