Chinese refined copper imports fell for a third straight month to about 24 percent in June from a month earlier, said media reports quoting customs data. Related Articles China’s tax may hit profits of Asian steel majors (Jul 12) Related Topics Copper China The refined copper imports which fell to 211,957 tons are down 44 percent from year ago period, on increased domestic production and decreased domestic prices. The government move to revise policies governing the mining industry like new resource tax has lead for lower imports. "The market was expecting the decline in the refined numbers because of the negative arbitrage last month. Domestic users are also trying to work off the metal already in the country rather than import more, judging from the recent fall in stockpiles." a Bloomberg report said, quoting, Li Ye, an analyst at Minmetals Starfutures. Inventories supervised by the Shanghai Futures Exchange dropped 21 percent in June, the biggest monthly decline since April 2009. EMAIL PRINT TEXT SIZE: SHARE RATE: Copper for three-month delivery on the London Metal Exchange declined 1.6 percent to $6,751 a metric ton before trading at $6,840 in Singapore

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