Chinese imports of copper concentrate from Australia declined by 34.5pc in October on an annual basis as trade relations between the two countries deteriorated.
The Asian country accepted 40,496mt of Australian copper concentrate last month, less than half compared with September. According to media reports, the Chinese government has unofficially instructed companies to avoid buying copper from Australia, along with other commodities such as coal. In fact, about 5.7mn dwt of Australian coal is standing idle off the shores of China due to clearance disputes.
For October, total copper imports into China fell by 21pc over the preceding month. Australia is an important supplier of copper, iron ore, and bauxite to China.