China's copper imports rose 10.15% in September from a month earlier, to th...
BEIJING - China’s copper imports rose 10.15% in September from a month earlier, to their highest in eight months, data from the customs showed on Monday, as higher prices in Shanghai drew shipments to the world’s top consumer of the metal.
That was up from 404,000 tonnes in August but down 14.6% from a bumper 521,000 tonnes in September last year, which was the highest monthly total since March 2016. Copper stocks in bonded warehouses in China slumped to 295,500 tonnes by Sept. 30, the lowest since at least 2013, according to Refinitiv Eikon data, implying a tighter market as a crackdown on scrap imports boosted demand for other forms of copper.China’s factory activity shrank for a fifth month in September, pointing to persistent pressure on the world’s second-biggest economy and its copper-intensive manufacturing sector amid the bruising trade war with the United States.
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