China's November copper imports jump by 42.3 pct month on month

Arrivals of unwrought copper, which includes anode, refined, and semi-finished copper products stood at 470,000 tonnes last month, the General Administration of Customs said Friday, the highest level since December 2016.

Reflecting the impact of currency movements over the year, imports grew by 15.6% in local currency terms, above the 12.5% level expected.

China's iron ore imports rose in November, though steel mills are cutting output as part of a government drive against pollution.

Export growth also beat, lifting by 12.3% over the same period in U.S. dollar terms, a sharp improvement on the 6.9% level of October and forecasts for an increase of 5%.

Iron ore imports also lifted, jumping to 94.54 million tonnes from 79.49 million tonnes in October. Coal prices in China have risen steadily this year, touching their highest since at least 2015 at 688.8 yuan ($104.07) a tonne on Dec.4.

It was the fastest annual increase since March 2017.

The latest data showed the country posted a trade surplus of $40.21 billion for the month versus expectations for $35 billion in November after October's $38.185 billion.

The data has helped lift riskier assets across the region, seeing stocks add to earlier gains and helping to reverse earlier losses in the Australian and New Zealand dollar's and Chinese commodity futures.