SHANGHAI, Apr. 21 (SMM) – Copper concentrate imports via the Port of Fangchenggang, Guangxi, China’s important port for inbound shipment of the copper smelting ingredient, grew significantly in the first quarter of this year, local media reported.
Imports via the port swelled 76.1% from a year ago to 493,800 tonnes in Q1.
China’s copper concentrate imports have maintained big growth on a year-on-year basis in recent years, partly due to expanding copper smelting capacity in China. Besides, domestic copper ore output could not keep up pace of demand growth and costs at domestic mines are higher than their overseas counterparts, also boosting demand for the raw material.
Normal operations at Guangxi (Jinchuan) are the main reason behind marked growth of copper concentrate imports via the port. The company sees its refined copper output at 400,000 tonnes in 2016, so it needs to import about 1.6 million tonnes of copper concentrate, up 200,000 tonne from 2015.
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