Bloomberg reported that China’s copper imports rebounded from 9 month low and domestic output of the metal jumped to a record as producers in the world’s largest consumer anticipate rising demand amid a strengthening economic recovery.

The customs office said that imports of copper and products increased to 290,158 tonnes in November. That’s 10% more than October’s level which was the lowest since January.

Copper gained to the highest price since September 2008 on the London Metal Exchange this month as manufacturing in China expanded at the fastest pace in five years. China’s USD 586 billion stimulus spending, state stockpiling and a lack of scrap material had boosted imports to a record, helping drive the after tax Chinese prices below London’s since at least July.

Mr Wu Xiaoqi analyst at Minmetals Haiqin Futures Company said that “Traders could be buying in anticipation of demand for the coming spring. Still, the rebound came as a surprise as it’s been money losing to import.”

Mr Cheng Xiongfei an analyst at metals trader Shenzhen Rongtop Trading Company said that smelters might have boosted utilization rates to meet full year targets.

Customs said that China’s purchases of copper and products jumped 67% to 3.9 million tonnes in the first 11 months. The country’s production of the metal rose 8% to 3.9 million tons in the same period.

According to customs data, the country shipments of aluminium and the metal’s products gained by 39% to 120,674 tonnes in November after slumping 56% the previous month.

Calyon and Citigroup Inc said last month that copper, lead and zinc demand will rise in 2010 as the global economy recovers and the dollar loses more of its value.

(Sourced from Bloomberg)