Copper Anode Imports in May Rose Sharply MoM

In May 2024, China imported 100,000 mt of copper anode, up 53.53% MoM and 12.59% YoY. From January to May 2024, cumulative copper anode imports were 397,300 mt, down 14.21% YoY.

In Africa, China imported 48,600 mt of copper anode from Zambia in May, up 76.60% MoM and 82.91% YoY; imports from the Democratic Republic of Congo were 18,600 mt, up 75.99% MoM and down 0.17% YoY.

China imported 13,200 mt of copper anode from Chile in May, up 30.62% MoM and down 20.80% YoY.

The sharp rise in China's copper anode imports in May was mainly due to the impact of logistics and customs clearance. Uncertainties in African logistics led to delayed shipments, causing some cargoes to arrive in May. Additionally, with the Labour Day holidays approaching at the end of April, some shipments or customs clearance were postponed to May. Overseas copper anode smelters underwent maintenance in May, affecting production, and with significant import losses, Q3 copper anode imports are expected to decline.