pick-up into the final quarter.
use of foreign currency for trade finance by ensuring that trade
deals are authentic and by monitoring for unusual cross-border
cash flows, state media reported at the weekend.
Industry sources said copper financing has been curtailed at
the edges, but they do not expect a big market impact.
China's copper imports grew 7 percent in November over the
previous month to 435,613 tonnes. Copper scrap imports improved
to 430,000 tonnes from 360,000 tonnes in October, preliminary
data showed this week.
Last months' data showed scrap imports were still down by
some 10 percent from year ago levels.
The squeeze on nearby copper supply has seeped into LME
futures, with cash copper flipping into $5 premium against the
benchmark contract, up from a discount of around $9 earlier this
month and the highest since mid-November.
A similar scenario is playing out in zinc, also suffering
from tight supply and another popular means of financing in