China Oct copper imports rise as demand outlook brightens
Writes through with details
By Siyi Liu and Mei Mei Chu
BEIJING/SINGAPORE, Nov 7 (Reuters) -China's imports of unwrought copper rose in October from a year earlier, customs data showed on Thursday, boosted by improving seasonal demand and a better outlook for consumption of the industrial metal.
Imports of unwrought copper and products were 506,000 metric tons last month, up 1.1% from the corresponding period last year, data from the General Administration of Customs showed.
September and October are traditionally a strong demand period for industrial metals as manufacturing activities pick up after the summer lull, while the Golden Week holiday in October bolstered travel and consumption of goods.
Government economic stimulus in September also brightened the demand outlook for the metal used in power, construction and transport, driving global prices higher.
China's manufacturing activity expanded in October for the first time in six months, official data showed last week.
Services activity in the world's second-largest economy also expanded at the fastest pace in three months in October, a private-sector survey showed this week.
Domestic inventories declined in August and September, prompting more buying of overseas cargoes.
The premium for copper delivered to warehouses in the eastern port of Yangshan, a widely watched indicator of China's import appetite, peaked at an intra-year high of $69 per ton in early October, before declining to $48 per ton last week. SMM-CUYP-CN
The October figure was up from the 479,000 tons imported in the prior month.
The data includes anode, refined, alloy and semi-finished copper products.
For the first ten months of 2024, copper imports were up 2.4% at 4.6 million tons, the data showed.
China produced 10.04 million tons of refined copper in the first nine months this year, up 5.4% from the same period a year earlier, the statistics bureau's data showed.
Imports of copper concentrate last month stood at 2.31 million tons, up 0.2% from a year earlier, customs data showed.
Copper concentrate imports totalled 23.36 million tons for the first ten months, up 3.3% from a year earlier.
Reporting by Siyi Liu and Mei Mei Chu; Editing by Jamie Freed and Clarence Fernandez
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
