Freeport Cuts Copper Output Forecast on Slower Grasberg Recovery 中文快讯：

In April 2026, China's copper enamelled wire exports maintained high prosperity, with monthly exports of 13,716 mt, up 3.77% YoY, covering 133 countries and regions. By market, Vietnam, Japan, and South Korea remained the top three markets, accounting for approximately 32% combined. Exports to Vietnam edged up 1.5%, while those to Japan and South Korea pulled back YoY. Exports to Turkey surged 544.3% YoY, jumping to fourth place; exports to Thailand declined 27.8% YoY, dropping to fifth.

[Latest Data from the General Administration of Customs] In April 2026, China's copper wire rod exports totaled 30,500 mt, up 19.24% MoM and up 112.27% YoY. Exports of refined copper wire with a maximum cross-sectional dimension >6mm were 16,600 mt, up 21.66% MoM and up 108.2% YoY. Exports of other refined copper wire were 13,900 mt, up 16.47% MoM and up 117.36% YoY. (HS code: 74081100, 74081900)

According to SMM research, strict entry regulations (Energy Commission/SIRIM) initially created a protective "moat" for Malaysian copper rod plants, as high compliance costs made imports uncompetitive. However, as overseas supply volumes grow, these upfront costs are being amortized, making imported rods highly price-competitive. Coupled with foreign firms accelerating their overseas expansion, local plants are feeling the squeeze. Impacted by this cost-effective external supply, domestic producers report dropping orders and are forced to slash quotes to defend market share. This local price war is expected to escalate further as direct exports to Malaysia continue to climb.