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Imports and exports of copper down 4.3% in 2008

By Jiang Wei (chinadaily.com.cn)
Updated: 2009-02-11 19:56

China's imports and exports of copper hit 3.26 million tons in 2008, down 4.3 percent from a year earlier, the General Administration of Customs said on Feb 11.

Imports stood at 2.64 million tons, reflecting a decrease of 5.1 percent year-on-year against the 34.8 percent increase in 2007. Exports dropped 0.8 percent year-on-year to 620,000 tons.

Related readings:  Cheaper foreign copper boosts nation's reserves  China copper confidence contrasts with aluminum woe  Jiangxi Copper predicts 2% growth in demand  China may lift restrictions on copper concentrate processing trade

The country's net import in copper decreased 6.4 percent year-on-year to 2.02 million tons.

Both import and export prices climbed in the first half of last year and decreased in the later half after reaching $8,400 per ton and $8,599 per ton in July and August respectively. The two figures dropped to $4,336 per ton and $6,530 per ton in December, both the lowest in recent years.

The customs contributed the declines to the expanding impact of the global financial crisis to the real economy.