This Morning in Metals: China’s Copper Imports, Imports of U.S. Goods Decline
This morning in metals news, China’s copper import levels fell in June, the U.S.-China trade war saw China’s imports of U.S. goods plunge in June and BHP has long-term designs on mine expansion over the next century.
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China Copper Imports Fall
Imports of copper in China fell 27% on a year-over-year basis, Reuters reported.
In addition, unwrought imports in 1H 2019 fell 12.5% compared with the same period in 2018.
Trade War Slows U.S.-China Trade
Unsurprisingly, ongoing trade tensions between the U.S. and China have seen trade between the two countries slow considerably.
Citing Chinese customs data, the Associated Press reported China’s imports of U.S. goods fell 31.4% in June on a year-over-year basis. Meanwhile, Chinese exports to the U.S. in June fell 7.8%.
Miner BHP Could Expand Significantly
According to Bloomberg, miner BHP Billiton says it could build as many as 11 more iron ore mines in Australia’s Pilbara region over the next 50-100 years.
MetalMiner’s Annual Outlook provides 2019 buying strategies for carbon steel
Iron ore prices have surged this year to five-year highs amid supply disruptions in Brazil and Australia.
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