SHANGHAI, Nov 1 (SMM) - According to the General Administration of Customs, China’s import volume of unwrought copper and copper semis in September was 509,954.1 mt, an increase of 25.6% year-on-year and a month-on-month increase of 2.36%. The cumulative import volume from January to September was 4.41 million mt, a year-on-year increase of 9.84%. The import volume of copper ore and concentrate in September was 2.27 million mt, an increase of 7.67% year-on-year and a month-on-month increase of 0.13%; the cumulative import volume from January to September was 18.9 million mt, an increase of 8.79% year-on-year.
The month-on-month increase in imports of unwrought copper and copper semis was mainly due to demand recovery in the traditional peak season. Moreover, infrastructure investment continued to expand, and the import window has open since the middle of September, with the import profit once hitting about 600 yuan/mt.
The 480,000 mt blister copper projects of Tongling Nonferrous Metals and CNMC Daye Yangxin Hongsheng this year have boosted the demand for copper ore. CNMC Daye Yangxin Hongsheng started to put its blister copper project into operation on October 23.
In September, China imported 683,500 mt of copper concentrate from Chile, a decrease of 114,400 mt from August, mainly because major Chilean mines faced declining copper ore grades, lack of fresh water resources, and three major mining proposals restricting copper concentrate production, as well as mine accidents. In contrast, imports from Peru rose 175,900 mt to 668,100 mt mainly due to the smooth production recovery process of Las Bambas copper mine, and fading risks of community protests and road blockages.
