China's Copper Imports Decline 33%
Source: Bloomberg News |
April 12, 2011, Tuesday
|
Print Edition
Print Edition
CHINA'S copper imports fell 33 percent last month from a year earlier, raising concern high prices may erode demand in the largest consumer as the metal piles up in warehouses globally.
Inbound shipments of copper and copper products were 304,299 metric tons compared with 456,240 tons in March 2010, according to customs data yesterday. The imports last month rebounded from 235,469 tons in February, which was the lowest level since January 2009.
Copper on the London Metal Exchange, which hit a record in February, had the worst first quarter in a decade as stockpiles climbed even amid forecasts for a global deficit. LME-monitored holdings have gained this year, as have those tracked by the Shanghai exchange. Additional stockpiles in China's bonded warehouses, which are not officially reported, have also doubled, according to Standard Bank Plc analyst Leon Westgate.
Inbound shipments of copper and copper products were 304,299 metric tons compared with 456,240 tons in March 2010, according to customs data yesterday. The imports last month rebounded from 235,469 tons in February, which was the lowest level since January 2009.
Copper on the London Metal Exchange, which hit a record in February, had the worst first quarter in a decade as stockpiles climbed even amid forecasts for a global deficit. LME-monitored holdings have gained this year, as have those tracked by the Shanghai exchange. Additional stockpiles in China's bonded warehouses, which are not officially reported, have also doubled, according to Standard Bank Plc analyst Leon Westgate.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
