Copper Wire Rod Exports in July Pulled Back Nearly 30% MoM, High Copper Prices and High Premiums Suppress Foreign Demand [SMM Analysis]

In July, total exports of copper wire rod (HS codes 74081100 and 74081900) declined MoM but increased YoY. Specific data are as follows:

According to customs statistics, China's total exports of copper wire rod stood at 23,800 mt, down 27.01% MoM and up 39.6% YoY. Exports of refined copper wire with a maximum cross-sectional dimension >6 mm were 14,200 mt, down 38.53% MoM and up 43.57% YoY. Monthly exports of other refined copper wire reached 9,700 mt, up 0.62% MoM and up 34.17% YoY.

In July 2026, exports of copper wire rod (HS codes 74081100, 74081900) declined notably,driven by higher copper prices and elevated premiums for imported copper, which pushed up export costs and quotes. Overseas inquiries were scarce, with only essential orders underpinning demand.By trade mode, exports of China's copper wire rod in July 2026 remained dominated by processing trade. Among this, processing trade with imported materials accounted for 62.79% of total exports, processing trade with supplied materials for 29.49%, Entrepot Trade by Customs Special Control Area for 5.61%, and Ordinary Trade for 2.09%.

By country, the top five export markets for copper wire rod in July were Malaysia, Thailand, Vietnam, Indonesia, and the Philippines, together accounting for over 60% of total exports, a share down MoM. Malaysia fell 8.45% MoM but remained the top market supported by essential demand. India showed strong performance, boosted by concentrated construction and stockpiling for infrastructure projects such as PV and power grid. Local copper rod capacity could not meet demand, leading to sustained import demand release, which drove China's copper rod exports to India up 106.88% MoM. Exports to other countries fell under pressure from high prices.

In summary, China's copper wire rod exports fell under pressure in July 2026, with high copper prices and elevated imported copper premiums pushing up export costs, suppressing and delaying overseas demand, ultimately resulting in a MoM decline in export volumes.Entering August, as imported copper premiums pull back and export processing fees decline, the previously suppressed delayed demand is released conentrately, and export orders rebound clearly. It is expected that copper wire rod exports in August will rebound MoM.