China Copper Imports Commerzbank

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China Copper Imports Commerzbank

Copper Imports In China Hit Ceiling - Commerzbank

The data from last month showed that China imported around 2.92m tons of Copper. This included the concentrated Copper and the Copper Ore.

quick look at the last 12 months shows that the Copper imports were around 28.8 million tons. Now, that's also a new record, but Commerzbank believes that the trend has changed a lot in the last few years.

300% Increase In Copper Imports During 2010-2024

From 2010 to 2024, a 300% increase was seen in the Copper imports by China. Back in 2010, the ratio of imported Copper concentrate & ore was 1.5x more than the unwrought copper. Today, the same ratio is standing at 5x or more.

During the period of 24 periods, a 300% increase was seen in the import of concentrate and ore. On the other hand, only a 30% increase was seen in the unwrought copper imports.

At the same time, an increase was seen in the copper products produced domestically. In fact, these products almost doubled during that period.

But the data also shows that the growth rate of Copper imports has slowed down a lot in the last few months. The recent data showed only a 24.6% y/y increase in the Copper imports.

But if we look at the data from a 12-month period, it shows that the imports have declined from 9% to just around 2.4%. That's a big decline and also sheds some light on the health of the Chinese manufacturing sector.

Meanwhile, some experts say it has less to do with China's demand and more to do with the global copper supply. The data from the US Geological Survey reveals that a 1.8% increase was seen in the Copper supply globally.

Back in 2023, China accounted for around 65% of the global supply of Copper products. But it doesn't matter the reason, the bottom line is that China is not importing as much Copper as it used to do in the past.

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