Nation's copper imports decline 21 percent in January

HONG KONG: China's imports of unwrought copper and semi-finished products fell 21 percent on the month in January, much less than expected as traders turned to material in bonded warehouses to cover local demand.

While wary to read too much into 2010's first month, analysts said it could be an early signal that this year's imports would fall short of the record levels of 2009, as China's stockpiles get run down.

"I think this year's refined copper imports will be around 2 million tons, averaging less than 200,000 tons a month, much lower than 2009," said Liu Xu, a metal analyst at China International Futures.