Cop­per im­ports at high­est level in 10 months in July

China Daily (Hong Kong) - - BUSINESS / DIGEST -

Re­fined cop­per im­ports by China, the largest user, rose for a third month in July, touch­ing the high­est level in 10 months, af­ter a drop in do­mes­tic out­put boosted spot pre­mi­ums and amid cheaper prices in Lon­don. Ar­rivals gained 15 per­cent from a year ear­lier to 291,846 met­ric tons, ac­cord­ing to the Gen­eral Ad­min­is­tra­tion of Cus­toms on Wed­nes­day. That was the high­est since Septem­ber and 5 per­cent higher than June. Pre­mi­ums for spot me­tal climbed to as high as $202.50 per met­ric ton in July amid a slump in re­fined out­put af­ter smelter main­te­nance and tight sup­plies of im­ported scrap me­tal.

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