VanEck Vectors Global Alternative Energy ETF

Published : June 17th, 2015

China’s Copper Imports Dip in May Month-over-Month

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Keywords :   Chile | China | Copper | Growth | India | Japan | Market | Real Estate |

China’s Copper Imports Dip in May Month-over-Month

June Copper Prices Take a Tumble on Growth Concerns

(Continued from Prior Part)

China’s May copper imports

Previously in this series, we discussed the trends in Chinese refined copper production. While China (MCHI) is the largest consumer of copper, it’s not self-sufficient in its production of the metal. China needs to import raw copper for its smelters and refining plants.

Copper mining is concentrated in Latin America (ILF). From there, it’s shipped to Asia, where more than half of copper is consumed. In this part of the series, we’ll look at China’s copper imports in May.

Copper trade

China is the largest importer of copper ore, anodes, and refined copper. Chile, on the other hand, is the biggest exporter of these products. Japan is the second-largest importer of copper ore and concentrates, and India is the third-largest. These countries process copper ore into refined copper.

Imports decline in May

The chart above shows the trend in China’s imports of copper ore and concentrates. In May, Chinese imports dipped by 5.7% over April. Nevertheless, compared with May 2014, imports increased by a whopping 40%.

Having said that, China’s copper imports dipped unexpectedly in May 2014. That month, China imported only about 0.7 million tons of copper ore, the lowest quantity since June 2013.

Investors should generally look at YoY (year-over-year) changes in data, as this removes the impact of seasonality. In this case, YoY changes don’t give a clear picture because of the above-mentioned anomaly.

The decline in China’s copper imports is a negative sign for copper producers including Vale (VALE), Buenaventura (BVN), and Newmont Mining (NEM).

In the next part of our series, we’ll discuss how copper production is progressing in Chile.

Continue to Next Part

Browse this series on Market Realist:

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Chile | China | India | Japan | All
Gold and Silver Prices for these countries : Chile | China | India | Japan | All

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Buenaventura is a producing company based in Peru.

Buenaventura produces gold, lead, silver and zinc in Peru, develops copper, gold and silver in Peru, and holds various exploration projects in Argentina, in Chile and in Peru.

Its main assets in production are ORCOPAMPA, UCHUCCHACUA, COLQUIJIRCA MINE, YANACOCHA, CERRO VERDE and LA ZANJA in Peru, its main assets in development are CONGA and TANTAHUATAY in Peru and its main exploration properties are ISHIHUINCA, JULCANI, PORACOTA, ANTAPITE, RECUPERADA - BVN, MINAS CHANCA, TRAPICHE, PUQUIO JV and SABRINA in Peru and CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH and CERRO VERDE - ROM LEACH in Chile.

Buenaventura is listed in Germany and in United States of America. Its market capitalisation is 639.0 millions as of today (€ 574.4 millions).

Its stock quote reached its lowest recent point on August 28, 1998 at 1.35, and its highest recent level on September 18, 2024 at 13.47.

Buenaventura has 47 442 200 shares outstanding.

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