Copper Imports by China Slump From Record as Stockpiles Rise
- Imports may stay below record level in coming months: CRU's Li
- There's `no need for imports given so much inventory,' Ji says
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Imports of copper by China slumped in April from a record the previous month after swelling stockpiles in the top user discouraged purchases. Prices tumbled in London on Monday to the lowest in almost a month.
Cargoes of unwrought copper and products dropped to 450,000 metric tons from 570,000 tons in March, according to data from the General Administration of Customs on Sunday. In the first four months, the imports totaled 1.88 million tons, 23 percent more than the same period a year earlier.