SMM Analysis: Red Sea Crisis May Continue to Pressure the Already Tight Copper Concentrate Supply
The risk of Red Sea shipping will increase the international trade transport safety costs while impacting the global shipping industry and supply chain. So, what kind of impact will this have on China's copper concentrate imports? According to data from the General Administration of Customs, in 2023, China's imports of copper concentrate from Europe mainly come from the Russian Federation, Serbia, and Spain. The import volume of copper concentrate from these three countries accounts for 5%-6% of the cumulative import volume from January to October this year. Some of the copper concentrate imported from the Russian Federation also enters China through railway transportation, not solely relying on shipping.

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