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Chinese copper imports up 36 percent |
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Monday, 22 October 2007 |
Mongolian copper will remain
in high demand as reports indicate China imported 36 percent more copper
in the first eight months of 2007 than in the previous year.
Total figures show China purchased
3.2 million tons of copper during this period. The value of this copper
was placed at U.S. $6.1 billion.
The world demand for copper,
lead by China, has caused a price increase of 20 percent in the past
year. Additionally, the demand for copper worldwide has outstripped
supply by 130,000 tons.
While Mongolia is a major supplier
of copper to China, other countries also export copper to China including
Chile, Peru and Australia.
Copper prices are expected
to continue to rise in 2008.
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