China’s 2020 copper imports forecast at 3.8 mil mt, amid rising demand, better pricing: Antaike

摘要

China is expected to import a total of 3.8 million mt of refined copper in 2020, up from a previous forecast of 3.5 million mt, amid a surge in recent inflows, Antaike, the research consultancy for the country’s nonferrous metals industry, said in its latest copper report Sept. 14. The imports have gone up as it was economically more viable to import copper products than buy from the domestic market, Antaike said. The average price of three-month copper cathode on the London Metal Exchange in August 2020 was $6,485/mt versus Yuan 51,239/mt ($7,500/mt ) on the Shanghai Futures Exchange, data from the LME and SHFE showed.