China May Copper Imports Slump to 30-Month Low on Destocking
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Refined-copper imports by China tumbled to the lowest level since November 2008 as the biggest user continued destocking, lowering local prices and making it largely unprofitable to buy from overseas.
Inbound shipments dropped 47 percent from a year ago to 149,235 metric tons, down 6.9 percent from 160,236 tons in April, according to Bloomberg News calculations based on data provided by the General Administration of Customs. Exports declined to 20,175 tons from a record 44,595 tons in April.