SMM Analysis: China's Copper Concentrate Port Inventory Supports China's Electrolytic Copper Production in 2024
Data released by the General Administration of Customs on March 7th showed that China's imports of copper ore and its concentrate in January-February were 4.658 million tons, a 0.6% increase from the same period last year. The cumulative import volume of Chinese copper concentrate in 2024 has seen almost no growth. However, in terms of electrolytic copper, according to SMM statistics, China's electrolytic copper production in January-February 2024 was 1.9201 million tons, a cumulative year-on-year increase of 9.03%. The cumulative year-on-year increase in China's electrolytic copper production seems difficult to be supported by the import volume of copper concentrate.

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