IKN

with good capon lined

Copper: China keeps on buying the dips…

…despite all the threats of immediate world doom and all that jazz. So why shouldn’t I?
Here’s Desjardin’s with the latest Chinese copper import data for November and here’s the link to read the whole shebang, with pretty charts and everything.
On Saturday (December 10), preliminary Chinese trade data was released for the month of November. Unwrought copper imports reached 452,022 tonnes, up 17.9% from 383,507 tonnes in October and 28.6% from 351,597 tonnes in November 2010; this represents the highest level since March 2010. The import deficit implies net copper imports of 320,000 tonnes for November, up 25% from October’s level.
 
In addition, China’s production of copper semi-fabricated products (wire, plate, etc) reached an all-time high of 1.055m tonnes last month. All indications point to China continuing a growth trend in copper consumption.
dyodd, dude.

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