Bloomberg reported that copper imports by China the biggest consumer advanced to the highest level in 20 months in November as stronger local prices than in London prompted traders to increase buying.

According to Bloomberg calculations based on data posted on the website of the General Administration of Customs, inbound shipments of the refined metal, copper alloy and products gained 18% to 452,022 tonnes from 383,507 tonnes in October. That's the highest level since March 2010.

The 6 monthly gains will help fill a supply gap after domestic production of the refined metal fell to 5 month low in November and Shanghai Futures Exchange monitored warehouse inventories dropped to 28 month low at the beginning of December. Copper in London has fallen 19% this year on concern the deepening debt crisis in Europe and slowing global economic growth will damp metals demand.

Mr Xiao Jing an analyst at Beijing Capital Futures Company said that "This is a big amount, which explains why the high cash premiums seen at the end of November have disappeared."

(Sourced from Bloomberg)