In April, China imported a record of 2.92 million tons of copper and concentrate mineral. In the last 12 months, a total of 28.8 million tons were imported, which is also a historical record. Chinese copper imports have changed significantly in recent years, says Volkmar Baur, Commerzbank’s currency analyst.
Between 2010 and 2024, imports increase more than 300%
“While in 2010 China imported around 1.5 times more copper and concentrate mineral than copper and copper products, this proportion has now increased to more than five. Between 2010 and 2024, mineral and concentrate imports increased more than 300%, while copper imports without working and products only increased 30% in total during the same period. Consequently, national production of copper products increased significantly during this period, more duplicating. “
“However, the current record levels of copper and concentrate mineral imports should not obscure the fact that import growth has decreased significantly in recent months. Although April showed an interannual increase of 24.6%, by examining a period of 12 months it is revealed that the impulse of imports has cooled, falling from about 9% growth in April last year to 2.4% today.”
“However, this may be due to the global supply of copper ore than to the demand of China. According to the US Geological Survey, the offer increased only 1.8% last year, and China imported around 65% of the entire copper and global concentrate mineral in 2023.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
