SHANGHAI, Mar. 20 (SMM) – Inbound shipments of copper concentrate via the Port of Dongying in Shandong grew by 208.85 percent in 2016 on a yearly basis, iqilu.com reported.
The import volumes via the port hit 868,600 tonnes in 2016, valuing $1.096 billion, which soared 157.09 percent year-on-year.
After develop in more than a decade, Dongying is home to many large copper processing enterprises in China, with industrial scale exceeding 100 billion yuan. Some local copper processing enterprises, such as Shandong Fangyuan Nonferrous Metals, Shandong Hengyuan Copper, and Dongying Jinyuan Metallic Material, have been well-known in domestic copper processing industry.
As a major copper processing base, Dongying has a high reliance on imported copper concentrate, and demand for imported ore is also high.
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Note: Prices all above are for most-actively traded contract on the SHFE.