China imported more Copper and large quantities of Copper ore again in September – Commerzbank

China imported 479,000 tons of unwrought Copper and Copper products in September, according to the General Administration of Customs on Monday, Commerzbank’s commodity analyst Carsten Fritsch notes.

“This was a good 15% more than in the previous month. Imports were thus roughly at the previous year's level. The increase in imports is likely to have been in anticipation of stronger demand in the autumn. Whether this occurs or not will depend in part on the success of the monetary policy and fiscal policy stimulus measures that have already been implemented or announced.”

“Year to date, Copper imports are up 2.6% y-o-y. Imports of Copper concentrate in September were 2.44 million tons. This was slightly lower than in the previous month, when the second-highest level since the beginning of the data series was recorded, but almost 9% higher than in the previous year.”

“Imports in the first nine months of the year are 3.7% higher than in the same period of the previous year. The latest data suggest that the supply of Copper ore is improving, which would argue against significant cuts in Copper production in China. This is another reason why Copper imports could be lower in the coming months, which would argue against a rising Copper price.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.