China net importer of metals in October

Amid rebounding commodity prices  on the London Metal Exchange (LME) overnight, Chinese monthly refined copper imports were up 15% in October, an eight month high.

Al Robinson said, "China's resurgent demand for raw materials is already surprising the market." 

"It reverted to 'net importer' status in all base metals for October, according to the London Metal Exchange (LME). China already needs more resources than it can get its hands on."

"China actually imported enough copper in October to offset the rest of the LME's inventory rise. The 'rest of the world' may not be setting commodity demand ablaze. But China is already starting to fill in the gaps created by Western recession - on its own," he said.

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