By Bloomberg News Dec. 22 (Bloomberg) -- Refined copper imports by China, the world’s largest consumer, rebounded in November from an 11-month low as domestic prices strengthened on rising demand. Shipments increased to 194,388 metric tons last month, the customs office said today. That’s 15 percent more than October’s level, which was the lowest since December 2008, according to data compiled by Bloomberg. Copper reached the highest price since September 2008 this month as manufacturing in China expanded at the fastest pace in five years. The country is targeting 8 percent growth in 2010 and an 11 percent gain in industrial production, industry minister Li Yizhong said yesterday. “Domestic prices have strengthened noticeably against London, narrowing losses on imports,” Fu Bin, an analyst at Jinrui Futures Co. said from Shenzhen. “We may see profits again if the trend continues. Traders would seize the opportunity to ship in more copper.” China may increase imports to as much as 200,000 metric tons a month in the first quarter of 2010 after higher domestic prices made purchases from overseas cheaper, according to Macquarie Group Ltd. Copper in Shanghai last week was at the biggest premium to the London Metal Exchange price since mid-July, Macquarie analysts led by London-based Jim Lennon wrote in a report dated yesterday. More construction and car production in the Asian nation will boost demand for metals, they said. Copper for delivery in three months on the London Metal Exchange was unchanged at $6,935 a ton by 9:50 a.m. in Shanghai. It reached $7,170 on Dec. 2, the highest in almost 15 months. Shanghai copper was little changed at 55,690 yuan ($8,155) a ton at the same time. --Li Xiaowei. With assistance by Chanyaporn Chanjaroen in London. Editors: Richard Dobson, Gavin Evans. To contact the Bloomberg News staff on this story: Li Xiaowei in Shanghai at Xli12@bloomberg.net

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