No End to China Copper Stockpiling


". . .May imports rising to record levels."

China is continuing its stockpiling of copper with the country's May imports rising to record levels.

According to reports, China, the world's top consumer of copper and aluminum, imported 422,666 tons of unwrought copper, including anode, refined and alloy, and semi-finished products, in May, up 5.7% from April's record 399,833 tons.

Imports of unwrought aluminum and semi-finished aluminum products in May dropped 24.6% on the month due to reduced arrivals of booked arbitrage imports for primary aluminum after record inflows in April.

Based on the ratio of refined copper to total imports in April, refined copper data, which is an indication of domestic consumption and will be announced in late June, could show refined copper inflows of 336,019 tons in May, more than the 300,000 tons traders had forecast and surpassing April's record of 317,947 tons.

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