Chinese imports of copper metal and concentrates saw double-digit growth on an annual basis in the first month of 2018 on a profitable arbitrage and restrictions on copper scrap imports, preliminary Chinese customs data showed.
China imported 1.62 million tonnes of copper ore and concentrates in January, up 24.9% year on year. Meanwhile, imports of unwrought copper and copper fabricated products increased 16.1% in the same comparison to 443,000 tonnes. But imports of copper concentrates and copper metal were both down 1.82% and 1.56% from December 2017 respectively. Data for the final month of the year is normally higher because market participants need to meet trading volume targets or use up credit...