China refined Copper imports rise 103% in May, up 81% in Jan-May: Customs data

Metal Recycling News  |  2012-06-21 09:16:50   |   By

China's refined copper imports rose significantly by 103% year-on-year to 301,990 metric tons in May this year and up by 11% month-on-month, as per latest data released by the General Administration of Customs on Thursday. China is the world's largest copper consumer.

BEIJING (Scrap Monster): China's refined copper imports rose significantly by 103% year-on-year to 301,990 metric tons in May this year and up by 11% month-on-month, as per latest data released by the General Administration of Customs on Thursday. China is the world's largest copper consumer.

According to the customs data, country's refined copper imports increased sharply by 81% year-on-year to 1.6 million tons in January-May this year.

Chinese copper concentrate imports in the first five months of this year advanced by 24% year-on-year to 2.9 million tons and its May imports gained by 44% year-on-year to 667,904 tons.

According to the International Copper Study Group (ICSG), during the first quarter of 2012, global apparent usage of copper grew by 9% year-on-year, principally owing to strong growth in Chinese apparent usage.

Based on a 99% increase in net imports of refined copper, China’s apparent usage grew by 32% in the first quarter compared with that in the first quarter of 2011 and accounted for 43% of world usage.

China's copper mine production increased by 28% in the first quarter of this year while its refined production up by 9% year-on-year.