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China's copper imports down 17.5% MoM in Jun

Jul. 12, 2012 (China Knowledge) - China, the world's largest copper consumer, imported 346,223 metric tons of unwrought copper and copper products in June, reflecting the lowest level this year, according to latest statistics released by the General Administration of Customs.

The import last month reflected a YoY increase of 23.6% but a MoM decrease of 17.5%.

Analysts said that the decline in copper imports last month was due to weaker demand amid slowing Chinese economy. Last month, the country also saw decreases in imports of other commodities. Its imports of unwrought aluminum and aluminum products dropped to 89,600 metric tons from 91,100 metric tons in May.
In the first half of this year, the country's imports of unwrought copper and copper products amounted to 2.5 million metric tons, up 47% from the same period of last year.
The customs also said that China, whose copper consumption accounted for about 40% of the world's total, imported 370,000 metric tons of waste copper last month, taking its waste copper imports to a total of 2.23 million metric tons in H1, up 13% YoY.

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