METALS DATA - China's copper imports down, ali exports up month-on-month in May

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Vivian Teovivian.teo@fastmarkets.comJoint News Editor - Asia

London 08/06/2016 - China’s imports of unwrought copper and copper products fell 3.7 percent month-on-month to 430,000 tonnes in May, according to preliminary data published by the country’s General Administration of Customs on Wednesday.

This took imports to 2.31 million tonnes in January-May, up 22.1 percent year-on-year.

Market participants had expected imports to slow after March as arbitrage opportunity between Shanghai Futures Exchange and London Metal Exchange has closed since late-January.

The customs did not provide separate import figures for unwrought copper and copper products.

Chinese copper ore and concentrate imports rose 13.5 percent month-on-month to 1.43 million tonnes in May, taking year-to-May imports to 6.69 million tonnes, up 34 percent year-on-year.

Meanwhile, China’s unwrought aluminium and aluminium product exports rose 4 percent month-on-month to 420,000 tonnes in May.

This took exports to 1.9 million tonnes in the first five months of the year, which was down 7.9 percent compared to the same period last year.

The customs did not provide separate export figures for unwrought aluminium and aluminium products.



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