在2012年7月取消了3%的来料加工贸易出口关税、国内库存高企以及沪伦比值走低的影响下，中国精炼铜近几个月出口保持增长。2011年1-12月总共出口精炼铜仅为15.7万吨，而2012年1-10月中国出口精炼铜就已达到22.7万吨，预计2012年出口同比增长67%。

In July 2012 to cancel the 3% of the processing trade export tariffs/Domestic high inventory and Shanghai compare value under the influence of low,China's refined copper in recent months export growth.In 2011, a total of 1-12 month export refined copper is only 157000 tons,And in 2012 1 - October China export refined copper had reached 227000 tons,In 2012 is expected to export year-on-year growth of 67%.

　　很多贸易商对于融资铜采取滚动操作，由此我们认为短期融资铜不会快速的流入国内现货市场，但是融资铜的存在中长期仍然压制沪铜/伦铜比的上行，由此可能推动中国铜企的出口。

Many traders for financing copper take rolling operation,Thus we think short-term financing copper not fast into the domestic spot market,But the presence of copper financing long-term still pressing Shanghai copper/Aaron copper ratio upward,This may promote China's copper enterprises export.

　　政府退税比例较低、限制精铜出口，目前退税已经提高或关税取消（如2012年中国税务局自7月1日以来取消3%的铜出口税率）。新的传导机制以及供需结构，有可能使中国铜企加大出口，从而完成市场的自我修复，因此中长期看出口一定程度上缓解中国过剩的铜市场的现状。

The government tax refund ratio is low/Pure copper export restrictions,At present drawback have improved or duties to cancel(As in 2012, China revenue since July 1, cancelled since 3% of the copper export tax rate).The new transmission mechanism as well as the supply and demand structure,Has the potential to increase China's copper enterprises export,Thus complete market repair itself,So long to see export to a certain extent, ease China's surplus copper market situation.