China's copper imports may reach record high in 2011

China's copper imports inched down 2 percent on the month in December but the inflow in 2010 managed to reach a new record high, a feat that may be repeated in 2011, market watchers said. Analysts believe imports would go up this year as demand rises and fabricators and investors increase stocks in China, the world's leading copper and aluminium consumer.
Imports of unwrought copper and semi-finished copper products fell to 344,558 tonnes in December, reversing a 28.5 percent monthly rise in November, data from the General Administration of Customs showed on Monday. "Imports in December only fell a little from November despite poor arbitrage, reflecting people's bullish views on medium- and long-term copper prices," Beijing Capital Futures analyst Xiao Jing said.