Mubasher: China’s imported volume of unwrought copper dropped in October to its lowest level since April as prices surged to their highest level in more than three years, according to data from the General Administration of Customs (GAC).
Arrivals of unwrought copper declined to 330,000 tonnes last month, down from 430,000 tonnes in September.
Unwrought copper includes anode, refined, and semi-finished copper products.
Imported volume of copper concentrate slipped to 1.37 million tonnes in October from 1.47 million tonnes, a new record low since May.
Data also showed iron ore imports fell by around 23% month-on-month in October, having reached record highs in the previous month.
China recorded a surplus in the trade balance of JPY 254 billion ($38.2 billion) in October.