Copper Wire and Cable Exports Start the Year Strong with Stable Overseas Demand [SMM Analysis]

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       According to data from the General Administration of Customs, China's copper wire and cable exports in January 2025 were 107,100 mt, down 0.28% MoM and up 10.84% YoY. In February 2025, copper wire and cable exports were 73,300 mt, down 31.53% MoM and down 10.7% YoY. Cumulatively, China's copper wire and cable exports from January to February 2025 totaled 180,500 mt, up 0.94% YoY.

Data Source: General Administration of Customs

       Specifically, China's copper wire and cable exports in January and February 2025 involved 204 countries and regions. In terms of volume, Australia, the US, and Vietnam ranked top three in imports from China, with 18,800 mt, 9,400 mt, and 8,300 mt, respectively. Among them, Vietnam showed the most significant growth. With the rapid economic development and urbanization in Vietnam, the country's power demand has increased significantly. The Vietnamese government estimates that the national power demand will reach 90,000 MW by 2025, with an average annual growth rate of 8.5%, which will provide strong support for copper wire and cable consumption.

Data Source: General Administration of Customs

       In terms of export provinces, China's copper wire and cable exports from January to February 2025 involved 31 provinces. Among them, Jiangsu Province exported the most, with 40,400 mt; followed by Guangdong Province, with 25,000 mt; and Zhejiang Province ranked third, with 22,800 mt. The combined exports of these three provinces accounted for nearly 50%.

       SMM expects China's copper wire and cable exports in March 2025 to remain at a high level

       According to SMM's understanding from a major domestic enterprise, its copper wire and cable export orders performed well in March, with stable overseas demand. Meanwhile, the company stated that global trade sentiment is currently very cautious due to the impact of Trump's tariff policies, but as the tariff policies have not yet affected copper wire and cable products, there has been no significant impact on domestic copper wire and cable exports.