China copper imports surge

China's monthly copper imports surged a third in September, hitting a 20-month high after staying flat in the previous three months, as price differentials favored spot purchases and some shipments arrived ahead of the week-long Oct. 1 holiday.
Imports of anode, refined copper, copper alloys and semi-finished copper products stood at 460,000 tonnes in September, the highest since January 2014 and compared to 350,000 tonnes in August, July and June 2015, data from the General Administration of Customs showed on Tuesday.
Arrivals increased 17.9 percent from a year ago. In the first three quarters, imports dropped 5.5 percent from a year ago to 3.39 million tonnes.
"High arrivals in September were linked to good arbitrage ratios. Some shipments also arrived earlier ahead of the week-long Oct. 1 holiday," said Yao Yao, analyst at Maike Futures Brokerage.