China Copper Concentrate Imports Increased In April, Imports from Chile Plunged

China imported 2.1 million mt of copper ore and concentrate in April 2023, up 11.6% on the year and 4.1% on the month. YTD imports through April stood at 8.76 million mt, up 6.7% year-on-year. SMM predicts that China's copper ore and concentrate imports in May will fall to 2.076 million mt due to the reduction in raw materials demand from Chinese smelters undertaking maintenance.

The imports from Chile stood at 512,000 mt in March, down 26.6% or 185,500 mt. Shipments from Chile were 455,800 mt in January, a drop of about 799,200 mt from December 2022. Imports from Peru were 560,100 mt, up 9.81% or 50,000 mt MoM. In January 2023, a total of 415,000 mt of copper concentrates were shipped from Peru, a decrease of 173,400 mt from the previous month.

The imports from Canada stood at 29,300 mt in March, up 57.49% or 10,700 mt on the month; and 45,600 mt of copper concentrates were imported from the US, down 46.53% or 10,700 mt month-on-month.

Imports from Panama were 50,400 mt, down 27.08% or 18,700 mt month-on-month.

China imported 92,100 mt of copper concentrates from Mongolia in March, down 22.22% or 26,300 mt on the month; 121,900 mt from Kazakhstan, down 25.81% or 42,400 mt month-on-month; and 66,100 mt from Indonesia, up 6.49% or 4,000 mt MoM. Copper concentrate shipments flowing out of the Indonesian ports totalled 284,400 mt in January 2023, down 338,500 mt MoM.

The imports from Spain stood at 59,100 mt in March, up 47.75% or 19,100 mt on the month.

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