China term imports of copper may fall 20-30% next year

Hong Kong

SOME Chinese importers of refined copper have reduced bookings of term shipments for 2016, expecting lukewarm domestic demand and weak prices to continue, industry sources in China said.

Term shipments of refined copper are likely to fall 20-30 per cent in 2016, said one executive at a large trading firm in Shanghai, putting average monthly term imports next year at about 200,000 tonnes, down from 250,000 tonnes a month in 2015.

The drop in term volumes is likely to cut refined copper stocks...

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