China's imports of refined copper in May are expected to keep unchanged from those in April, despite the narrow in import loss, according to the Shanghai Metals Market (SMM), a commodity information provider in China, on Thursday.
The SHFE/LME copper price ratio has recovered to the level above 7.20, bringing the loss of domestic imports of refined copper down to around 500 yuan/metric ton (tonne).
Despite the favorable ratio, the domestic traders are reluctant to expand their imports, said the SMM. The weak consumption, sluggish financing demand, and abundant liquidity on the domestic market are major reasons behind the traders' poor willingness of importing more, the SMM added.
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