China imports less copper
China, which consumes nearly one-fifth of the total copper in the world, for the first quarter of 2005 has acquired a 15% decrease of the metal than in the previous year, as the prices according to official figures reached a record high. In March, imports of refined copper fell 3.4% compared with February to 105,803 tonnes, which was 8.9% less than that predicted traders. In the first three months of 2005, China imported 328,777 tons of refined copper, 15.4% less than in the same quarter last year.
A certain amount of copper set at bonded warehouses in China was imported into the country last month - when world prices were higher than the prices in the domestic market - and were directed to other Asian countries. For comparison, in March at the London Metal Exchange copper reached record highs and the most up April 12 - 3338 USD.
