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Chinese refined copper imports surge in March-2016 Guangzhou int¡¯l non-ferrous metals exhibition
4/26/2016 non-ferrous metals expo |
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Bloomberg News reported that China¡¯s imports of refined copper climbed to a record last month as the economy stabilized, the property market recovered and after buying by the state reserve supported domestic prices, making it attractive to place overseas orders. Purchases of refined zinc and nickel also increased.
The world¡¯s biggest metals consumer shipped in 458,068 metric tons of copper, 39 percent more than a month earlier. Purchases surged 36 percent to 1.11 million tons in the first quarter. Exports more than doubled from February to 23,375 tons, the highest in 10 months
The surge in refined imports was foreshadowed earlier this month by a jump in purchases of unwrought copper and products to 570,000 tons in March, also an all-time high. Demand picked up after the Lunar New Year holidays in February as manufacturers resumed operations. The state reserve bought 150,000 tons of copper in January as prices traded near the lowest since 2009, according to people with knowledge of the deal at the time.
Zinc imports jumped 72 percent from a month earlier to 76,998 tons in March and more than doubled to 180,985 tons in the first three months. Purchases of nickel rebounded 45 percent to 42,511 tons last month, the highest level since July, customs data show.
-2016
Guangzhou int¡¯l non-ferrous metals exhibition
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