SHANGHAI, Aug. 3 (SMM) –Based on SMM sources, volumes of foreign trade at export-oriented copper rod enterprises have fallen sharply, and some enterprises have begun to shift to domestic markets. As a matter of fact, export trade volumes at these enterprises have been lower than domestic trade volumes since May this year.
According to data released by China Customs, total exports for copper semis were 258.5 kt in the first half of 2011, down 2.05% from the same period last year. The declines in copper semis exports were mainly due to sharp drops in exports of copper rods and profiles. Total exports of copper rods and profiles during the first half of 2011 fell 46.8%, while exports of electric wire and cable products experienced a 9% increase year-on-year.
SMM believes that YoY declines in copper semis exports were partially due to falling demand in European countries and the US. Another reason was that China’s exports are shifting to higher value-added products.