Statistics
Refined copper imports up
(China Daily)
Updated: 2010-03-23 10:17
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SHANGHAI: Refined copper imports by China advanced 12 percent in February from a month earlier as demand rose and scrap supply fell.
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Chinese after-tax copper prices have traded at a premium to those in London for most of this year, according to Bloomberg calculations. The premium was about 500 yuan ($73) a ton on March 19, down from this year's high of 3,000 yuan in February.
The increase in imports is "no surprise given the favorable arbitrage", said Ji Guoqin, an analyst at Zhejiang Zhongda Co.
