BEIJING :China's copper imports fell 12.7 per cent in December from a year earlier, weighed down by weak demand as factory activity shrank at a sharper pace amid surging COVID-19 infections. Imports of unwrought copper and copper products totalled 514,049 tonnes in December, data from the General Administr
BEIJING :China's copper imports fell 12.7 per cent in December from a year earlier, weighed down by weak demand as factory activity shrank at a sharper pace amid surging COVID-19 infections.
“Domestic copper consumption slowed down since mid- to late-October, resulting in lower demand for imports,” said Ye Jianhua, a copper analyst at Shanghai Metals Market. Meanwhile, shrinking orders at home and abroad are forcing many metal goods factories, including those in China's southern Guangdong province, to shut for the Lunar New Year holiday weeks earlier than usual. Some are also cutting production plans.
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