BEIJING: China’s copper trade data for the month of December showed that overall copper imports rose in December, posting a solid close to a strong year for China’s copper market. Details of the report were as follows: Refined copper imports – Net imports of refined copper rise by 24 percent m/m to 331kt. Compared to December 2015, net refined imports were lower 17.8 percent y/y. The decline in refined copper imports is attributable to the massive increase in China’s domestic refining and smelting sector.
Copper scrap imports – December copper scrap imports remain stable, unchanged m/m, totaling 329kt . On an annualised basis, copper scrap imports declined 14 percent y/y. Increased availability of copper concentrate and ore and relative tightness in the scrap market seen as the likely cause for decline. Copper ore and concentrate imports – Copper ore and concentrate imports decline to 1,670kt in December, a 90kt or 5 percent m/m drop from the previous month.
