中國是銅的使用大國，免稅倉庫中的銅庫存從年初的零儲備量壹路漲到目前的350000噸後，可能會被重新出口到國外，按照西安麥可國際金屬公司的說法。
"We can hardly find buyers for refined copper," said Luo Shengzhang, general manager of the copper department at Xi'an Maike. The company ranks among the country's three biggest importers, according to the executive. "China's got to export some copper from now and next year," Luo said in an interview.
“我們幾乎找不到精煉銅的買家”，西安麥可公司銅部門的總經理羅盛章如是說。公司高管說公司已躋身於全國最大的三家銅進口商。羅總在壹次采訪中說：“中國從現在開始及接下來的幾年，都將出口部分銅到國外”
Copper, used to make pipes and wires, has more than doubled this year as China's 4-trillion-yuan ($586 billion) stimulus spending, increased State stockpiling and lack of scrap material boosted China's imports to a record. That's helped to drive Chinese prices below London's since at least July.
銅，用來制作銅管和銅線，今年已經刺激消費達到40000億元（5860億美元），是去年的2倍多，增加的國家儲備和廢料的缺乏刺激中國的出口創下新紀錄。這也幫助促使中國的價格從去年7月以來低於倫敦。
Xi'an Maike has had to re-route some bonded copper to London Metal Exchange warehouses in South Korea because the company was unable to find buyers in China, with local supply outpacing demand, said Luo. The effect of the stimulus package was wearing off and local scrap supply was improving, he said.
羅總說，西安麥可不得不以另外的方式出口部分保稅銅到倫敦金屬交易所在韓國的倉庫，因為公司在中國無法找到買家，國內供應已經供大於求，刺激計劃的影響正在減少，國內廢料供應正在改善。
"We do see the trend of more copper being re-routed, though our estimate for bonded copper isn't as big," Grace Qu, an analyst at CRU International Ltd, said from Beijing yesterday. A shift of the metal from bonded stockpiles "to LME reported inventory would be bearish for London prices", she said.
Grace Qu，來自CRU國際公司的分析師，昨天在北京說，我們確實看到這種趨勢，越來越多的銅被重新出口，但我們對保稅銅的預計沒有那麽大，金屬從保稅庫存到倫敦金屬交易所的變動會對倫敦價格產生不利影響
Luo's estimate of the bonded-zone stockpiles compares with 60,000 tons by Macquarie Group Ltd in July. It's also more than triple the inventory in Shanghai Futures Exchange warehouses, which stood at 104,275 tons as of the week of Nov 2. A bonded zone holds imported goods before duty has been paid.
羅總對保稅區域銅庫存的預計可以跟麥格裏公司七月給出的60000噸比對壹下。這個數據是上海期貨交易倉庫庫存的的三倍，到11月2號為止，上海期貨交易倉庫有104275噸。保稅區可以在繳納關稅之前就拿到進口貨物。
Three-month copper in London traded yesterday at $6,548 a ton compared with $3,070 at the end of last year. Futures in Shanghai have also more than doubled this year to a high of 51,580 yuan ($7,554) a ton yesterday.
昨天倫敦交易中心的3個月期銅價為6548美金/噸，去年年底為3070美金/噸。上海期貨中心的交易價格昨天也達到了今年的壹個新高，51580元/噸（7554美金），此價格是去年的兩倍多。
Still, buying the metal from overseas to sell in the Chinese market has not been profitable since at least July, according to Bloomberg calculations. Prices in Shanghai were more than 1,300 yuan a ton lower than London on Monday, after accounting for China's 17 percent value added tax.
此外，根據澎博計算，國外購買金屬國內銷售的模式至少從7月開始已經沒有那麽有利可圖了。把中國的17%的增值稅加進去，上海的期貨價格超過1300元/噸，低於周壹倫敦的價格
In addition to the bonded-zone stockpiles, China may also hold 150,000 tons in the Shanghai area, including in exchange-monitored warehouses; 235,000 tons at the State Reserve Bureau, which maintains government holdings; and 200,000 tons with fabricators and private investors, Luo, 36, said on Monday.
Refined-copper exports by China were 10,705 tons in September, 70 percent more than a month ago and the highest this year, according to data by the Beijing-based Customs office. Refined-copper imports in the first nine months of this year were 2.58 million tons, 165 percent more than a year ago.
除了保稅區的庫存，中國在上海地區還有150000噸的銅庫存，包括交易監控倉庫。國家儲備局有235000噸，這屬於政府持有。200000噸屬於制造者和私人投資者，羅總在周壹如是說。根據北京海關的數據，中國9月的精煉銅出口量為10705噸，比壹個月之前多了70%，是今年的新高。今年前9個月的精煉銅進口為2580000噸，比去年同比增長165%。
Xi'an Maike's inbound shipments of refined copper may total about 400,000 tons this year, ranking among the top three importers by volume, according to Luo.
羅總說，今年西安麥可進口的精煉銅總***約400000噸，是中國最大的三大進口商之壹。