Copper imports at highest level in 10 months in July

Refined copper imports by China, the largest user, rose for a third month in July, touching the highest level in 10 months, after a drop in domestic output boosted spot premiums and amid cheaper prices in London. Arrivals gained 15 percent from a year earlier to 291,846 metric tons, according to the General Administration of Customs on Wednesday. That was the highest since September and 5 percent higher than June. Premiums for spot metal climbed to as high as $202.50 per metric ton in July amid a slump in refined output after smelter maintenance and tight supplies of imported scrap metal.

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