According to preliminary data from the General Administration of Customs, Chinese imports of rough copper and copper semi-finished products amounted to 410 thousand tons in January 2015, which is 22.7 percent lower compared to January last year. In addition, the high price of copper scrap has led some of the secondary smelters to favor blister copper.
As for Chinese wire and cable manufacturers, about 42 percent of them remain pessimistic about the outlook for rising copper prices. These producers note that the euro may continue to weaken and the crisis in Greece will only contribute to the downward movement of the euro, valuing the Swiss franc higher. As a result, the US dollar index will go up. In addition, stocks of copper on the London Metal Exchange have recently surged, reaching 225,375 tonnes last week, while LME copper prices have been declining.
China's exports of unprocessed aluminum totaled 430,000 tons in January this year, up 36.7 percent year on year. Aluminum traded at 12,720 yuan ($ 2,066) per ton at the end of January 2015, down 1.01 percent from December 2014 and 5.64 percent down from the corresponding period last year.
Copper imports and aluminum exports from China in January 2015
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Azovpromstal® 11 February 2015 г. 09:27 |
