China’s imports of copper concentrate grew for a second consecutive month in August as a major mine in Indonesia ramped up exports before its export licence expires later this month.

Copper concentrate imports rose 8% in August to 2.76 million metric tons versus 2.56 million a month earlier, data from the General Administration of Customs showed on Monday. The ore is an important feedstock for copper smelters.

Miner Freeport Indonesia is ramping up shipments ahead of its export licence expiring on September 16, analysts and traders said.
The miner said last month it could ultimately export 90% of its 1.27 million ton quota by the deadline. It had hit 65% as of mid-August.

China imported 20.05 million tons of copper concentrate in the year through August, up from 18.59 million tons over the same period last year.

Imports of copper fell 11.5% in August from month earlier to 425,000 tons, the data showed.

Unwrought copper and copper product imports into China, the world’s largest consumer and producer, include anodes, refined metal, alloys and semi-finished copper products.

Last month, China also exported 534,000 tons of unwrought aluminium and aluminium products, including primary, alloy and semi-finished aluminium products, down from July’s 542,000 tons.
Source: Reuters