Jan. 31 (Bloomberg) -- Copper imports by China, the world’s largest buyer, are set to fall “sharply” over the next quarter after as much as 300,000 metric tons of the metal were stocked up in the country since September, Goldman Sachs Group Inc. said.
Much of the increase in stockpiles reflects metal moving from outside China into the country, Max Layton, an analyst at the bank, said in a report dated today. China’s copper imports need to average 250,000 tons a month for its demand to climb 5 percent this year as forecast, he said. In December, imports were 406,000 tons, he said.
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