General Administration of Customs: Imports of copper scrap from major supplying countries have declined, and China's copper scrap imports fell as expected in May

Online inquiry data from the General Administration of Customs showed that China's copper scrap imports in May were 185,200 mt, down 9.55% MoM and 6.53% YoY. Among them, shipments from Thailand fell by 15% to around 21,200 mt, while shipments from Japan and the US both dropped by about 40%, each falling below 20,000 mt. As a result, Thailand became China's largest copper scrap supplier. Recently, there has been much discussion about the US tariff policies. Although Sino-US trade relations eased in early May, they still faced a 10% tariff. The unfavorable SHFE/LME price ratio for importing copper scrap from the US led to a continuous decline in copper scrap shipments from the US to China.

Source: General Administration of Customs