Copper scrap imports by China skyrocketed during March 2016

By Anil Mathews (ScrapMonster Author)

April 25, 2016 07:47:57 AM

BEIJING (Scrap Monster): The latest figures released by Chinese Customs authorities indicate that copper scrap imports surged higher significantly during the month of March this year. The quarterly imports dropped marginally during January to March this year, in comparison with the same quarter a year before.

According to data, China’s copper scrap imports during March this year totaled 300 kt, jumping higher by nearly 76% over the previous month. The country’s copper scrap imports had totaled around 170 kt during February this year. The cumulative imports during the initial three-month period of the year totaled 742 kt. The imports dropped nearly 5% from 781 kt during the corresponding quarter last year.

The customs data suggests considerable decline in copper concentrate imports by the country during March this year. The imports totaled 1,370 kt, significantly down by 6% over the previous month. Year-on-year, copper concentrate imports recorded 4% decline. Meantime, imports during the initial quarter of the current year were up by almost 33% over the previous year to 4,008 kt. The concentrate import during the corresponding quarter in 2015 had totaled only 3,008 kt.

Also, the country’s net refined copper imports totaled 435 kt in March this year. The imports inched higher by 17% over the previous month. Year-on-year, the Chinese refined copper imports soared higher by over 50%. The refined imports during the first quarter of the year totaled 1,067 kt, significantly higher when compared with the imports of 761 kty during the corresponding quarter last year.

The copper scrap demand in the country continued to remain strong on the back of improved performance from steel and cement sectors, mainly on account of increased stimulus spending by the Chinese administration.