Interesting article on rebound in commodity demand

The good...

'Copper imports were near record highs at 462,182 tonnes, up 50.5 per cent from the previous year, continuing a run of strong Chinese copper buying that has buoyed global copper markets.'

The disclaimer...

'However, analysts said the copper purchases were driven mainly by traders who use copper importing as a channel to obtain bank loans by holding the metal as collateral.

“The high imports don’t reflect genuine demand, but financing demand,” said Li Yusheng, analyst at Antaike in Beijing, a state-linked consultancy. He expects copper imports to fall in coming months as a result.'

Full article

http://www.ft.com/intl/cms/s/0/9e95275c-82c9-11e1-929f-00144feab49a.html#axzz1rdWXHA6p