China’s unwrought copper imports jump, copper concs imports flat in Jan-Oct

Imports of unwrought copper and copper products to China rose significantly in the first 10 months of this year, according to customs data released on Saturday November 7.

China imported 5.6 million tonnes of unwrought copper and copper products in January-October, up by 41.4% from a year ago. Monthly imports of unwrought copper, including copper alloys, and products such as copper rods and bars, stood at 618,108 tonnes for October.

Meanwhile, over 18 million tonnes of copper concentrate were brought into the country over the same period, up just 0.8% year on year.

China, which holds over half of the world’s copper smelting capacity, bought 1.69 million tonnes of copper concentrate last month to feed smelting furnaces for refined copper production.

China continues to be a steady buyer of copper concentrate, in particular after importers were unofficially banned from purchasing Australian concentrates from November 6. Last year, China imported 1.05 million tonnes of copper concentrate from Australia, accounting for less than 5% of total imports of the material.

Fastmarkets calculated the benchmark copper concentrate treatment and refining charge (TC/RC) index cif Asia Pacific at $46.40 per tonne / 4.64 cents per lb on Friday, up from $44.90 per tonne / 4.49 cents per lb a week earlier amid a seasonally weaker spot market while market participants discuss annual contracts. 

What to read next
A bullish consensus formed last week in Shanghai as leading market participants met for the annual CPICC conference and Shanghai Pulp Week. Meetings were held against the backdrop of growing concerns around market pulp and woodchip supply, while questions remained around the strength of underlying demand. Heading into the week, the rally in pulp prices […]
The most recent financial results published by base metals mining companies highlight just how inflation is affecting profit margins, with increasing wages, financing costs and input prices all hitting profits, sources told Fastmarkets in the week to Thursday March 28
The March 2024 monthly averages were published today based on the index values of March 1, 8, 15 and 22.
Recent developments in China’s pulp and paper industry, notably the divestment of the Anhui Huatai pulp mill, prompted a closer examination of the dynamics of swing pulp lines, particularly the delicate balance between dissolving wood pulp and paper grade wood pulp. The Anhui Huatai pulp mill, which suspended production in the first half of 2023, […]
There are more opportunities being created for the Chinese ferro-alloys industry on the back of China’s focus on sustainable development goals and the rising availability of competitively-priced green electricity, sources told Fastmarkets
The green steel supply chain is gradually starting up in Malaysia, largely due to stricter decarbonization-related government policies, sources said in the week to Monday March 25. One of these policies is a two-year moratorium on all expansion and diversification of manufacturing activities in the iron and steel industry