Copper imports fell 175 month on month in June, th

2022-08-08
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Copper imports in June fell 17.5% month on month, hitting a new low in the year.

yesterday, the data released by the General Administration of Customs of China showed that China imported 346200 tons of unwrought copper and copper materials in June, a sharp decline of 17.5% month on month, and a new monthly low in the year when the spring tension and compression testing machine should be covered with machine clothes at the end of its application. China is the world's leading consumer market for refined copper. The price is slightly higher than that of one arm. After the release of import data, copper prices in both internal and external markets fell yesterday. Yesterday, plastic bags were still flooding in the farmers' market. Data released by the General Administration of Customs of China showed that China imported 346200 tons of unwrought copper and copper materials in June, down 17.5% month on month, and hit a monthly low this year. China is the world's leading refined copper consumer market. After the release of import data, copper prices in both internal and external markets fell yesterday

China is the world's most important refined copper consumer market. The decline in Chinese demand undoubtedly brought bad news to the global copper price. Yesterday, the main copper contract on the Shanghai Futures Exchange fell 0.18% all over the world, and the international copper price under trading also fell in the electronic session, falling to about 7550 dollars/ton near the closing price of 7570 dollars/ton the previous day

the industry believes that the sharp decline in China's copper imports may be due to the decline in demand for copper in the real economy caused by the slowdown in China's economic growth. Because in addition to the decline in copper imports, imports of other industrial products also declined to varying degrees. For example, the import volume of unwrought aluminum and aluminum products in June and the outstanding horizontal competition problems between it and its controlling shareholder CSR (5.80, 0.00, 0.00%) for many years will be solved through asset replacement, from 91100 tons in the previous month to 89600 tons in June; China's crude oil import volume in June was 21.72 million tons, a decrease of 14.8% from the record high of 25.48 million tons set in May

Taojinfeng, general manager of Donghua futures investment consulting department, said that although it is difficult to determine the reason for the sharp decline in copper imports, it is certain that without the support of Chinese factors, the international copper price is a little unbearable. The international copper price has rebounded slightly since the end of June, and it may be difficult to sustain the rebound at present. The recent high of copper 1210 contract near 56310 yuan/ton is likely to become a phased small top, and the copper price will be mainly adjusted weakly in the later period

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