SHANGHAI, Apr 18 (SMM) – China’s copper anode imports have risen as the country continued to expand its copper smelting capacity and as its domestic raw material supply percentage is below 30%.
In 2017, imported copper anode accounted for 9.1% of the total raw materials used for copper smelting in China. This compared with 8.8% in 2016, SMM data showed.
Zambia, Chile, and the Democratic Republic of the Congo are three major sources of China's copper anode imports, accounting for some 90% of the total volume. Imports from Zambia accounted for about 50%.
A total of 277 companies imported copper anode during 2014-2017, with the largest demand from Jiangxi Copper Corporation and CNMC International Trading Corporation, an SMM survey showed. The two companies' annual imports accounted for 35% of China's total imports.
The top 10 major customs received 90% of China’s imports, with Shanghai taking the largest share at 20-30% each year. In recent years, however, imports through Shanghai and Jinan customs saw diversion to others due to the increase in newly-built smelters across the country.
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