China '02 copper concentrate imports likely 2.25M MT-Minmetals
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NSTL
China's imports of copper concentrates this year will likely be around 2.25 million metric tons, unchanged from last year, as current world supply tightness will prevent imports from rising, an official from state-owned China Minmetals nonferrous Metals Co. said.Minmetals is the biggest metals trading company in China. China is the world's second largest copper consumer. "We don't expect this year's concentrate imports to decline from 2.25 million tons last year, but there won't be an increase either because of the supply tightness," the official said. Import data from the General Administration of Customs supports the official's forecast. In the first four months of this year, China's imports of copper concentrates rose only 1 percent on year to 618,623 tons. Supply in the world concentrate market has tightened following production cuts implemented by major copper mines around the world. In January-February, world mine production fell 3 percent on year to 2.12 million tons following the output cuts, according to the International Copper Study Group.
NSTL
