One piece of encouraging news over the past week has been Chinese trade data. Unwrought copper and semis imports rose by 16% year-on-year and 18% month-on-month to 458,000 tonnes in September. And this was despite the fact that the SHFE-LME arbitrage was largely unattractive for import trade during July/August when most of this material would have been booked.
展开▼