China's Copper Anode Imports Rose Slightly In April And Are Expected To Continue To Increase in May-June

China's imports of copper anode stood at 84,900 mt in April 2023, up 5.5% month-on-month but down 14.7% year-on-year. Imports from January to April 2023 totalled 374,300 mt, down 15.95% YoY.

The slight MoM import increase in April was caused by the narrowing import losses and the falling price difference between copper cathode and scrap. The decline in the copper scrap supply made domestic copper anode output

fall. As the supply of copper scrap continued to decline and the inventory of smelters kept falling, domestic supply of copper anode tightened. As such, it is expected that the import volume of copper anode will continue to increase in May and June.