China copper imports may fall

Print this page Posted on : 10-31-2008 by recycleinme.com

Refined copper imports by China may fall for a second year in 2009 as supply outpaces demand, according to China Minmetals Nonferrous Metals Co. Imports will fall from an estimated 1.2 million tonnes (mt) to 1.3 mt this year as the country moves into a supply surplus, Mr Gu Liangmin, Deputy General Manager of the copper department at China Minmetals, said in an interview in Shanghai, without quantifying the decline. Less buying from China may further pressure copper prices which have plunged 26 per cent this month as a deepening financial crisis fuelled concerns a global recession could reduce raw material demand.

Source : Business Line