(08/04) Copper May Decline on China Import Speculation, Survey Shows

April 08, 2011

Copper may fall on speculation figures for imports of the metal last month into China, the world’s biggest consumer, might signal tepid demand, a survey showed.

Eight of 16 analysts, investors and traders surveyed by Bloomberg, or 50 percent, said prices will drop next week. Five predicted a gain and three expected little change. Copper for delivery in three months was up 3.4 percent for this week at $9,682 a metric ton at 5 p.m. yesterday on the London Metal Exchange.

Chinese imports of copper and products in February were the lowest since January 2009 at 235,469 tons, customs data showed last month. That was a 35 percent drop from January. Figures for March shipments are scheduled for release on April 10.