interesting on cu

Extract form a story currently on the Kitco Metals site:

China's imports of refined copper and alloys rose 81 percent in January to 136,401 metric tons, compared with the same month last year, according to the Beijing-based customs office.

Copper stockpiles in Shanghai Futures Exchange warehouses climbed 15 percent last week to their highest level in 26 weeks after imports of the metal increased.

China Demand

Copper prices may fall below $5,500 on slowing China demand, said Andrew Harrington, an analyst at Australia & New Zealand Banking Group Ltd.

``This high and quite sudden increase in metal inventories is pointing to a picture where metal isn't being consumed as quickly as some had expected,'' Harrington said in a television interview today.

``A lot of the price impact on copper and other base metals has been because of the Chinese marginal increase in consumption. Any hiccup in that is going to be quite significant and perhaps cause a change in sentiment for the copper price,'' he said.