Optimistic Performance of 12 Copper Wire and Cable Exports: Can It Climb Higher Again in January? [SMM Analysis]

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       According to data from the General Administration of Customs, China exported 244,600 mt of electric wires and cables in December, up 10.16% MoM and 18.27% YoY. In 2024, China’s cumulative exports of electric wires and cables reached 2.6574 million mt, up 16.84% YoY. Among these, copper wire and cable exports in December totaled 107,400 mt, up 13.05% MoM and 18.71% YoY. In 2024, China’s cumulative exports of copper wire and cable reached 1.1687 million mt, up 27.19% YoY.

Data Source: General Administration of Customs

       Specifically, in December, China exported copper wire and cable to 203 countries and regions. The top three destinations by export volume were Australia, Indonesia, and Hong Kong. From a MoM growth perspective, exports to Indonesia showed significant increases in December. From a YoY growth perspective, Ethiopia's import volume stood out. Both countries, as key participants in China’s Belt and Road Initiative, have established extensive cooperation with China in areas such as power and infrastructure construction, providing a solid foundation for China’s copper wire and cable exports.

       SMM expects that China’s copper wire and cable export volume in January 2025 may decline MoM. According to SMM, this is partly due to the impact of the Chinese New Year in January, as some companies rushed to meet deadlines and shipped some orders in advance before the holiday. Additionally, SMM has heard from some enterprises that overseas demand shows signs of softening, and January shipments have slightly decreased. Therefore, SMM predicts that while January 2025 copper wire and cable export volumes may decline MoM, they will still remain at a high level overall.