China's Copper Concentrate Imports Hit A Record High In May

China imported 2.56 million mt of copper ore and concentrate in May 2023, up 16.8% on the year and 21.6% on the month. YTD imports through May stood at 11.31 million mt, up 8.8% year-on-year. According to SMM analysis, concentrated shipments after the fading of disruptions to production and shipments at overseas mines resulted in a sharp growth in China’s imports in May.

China imported 656,400 mt of copper concentrates from Chile in April, up about 144,400 mt or 28.2% MoM. Shipments of copper concentrates from the country were 843,000 mt in February, up 387,200 mt from January. Imports from Peru in April were 483,200 mt, down 13.73% or 76,900 mt month-on-month. In February, a total of 272,800 mt of copper concentrates were shipped from Peru, a decrease of 142,200 mt from January.

China imported 56,300 mt of copper concentrates from Canada in April, up about 27,000 mt or 91.85% on the month. 60,100 mt of copper concentrate was imported from the US, up 31.73% or 14,500 mt month-on-month.

Central America: Imports from Panama dropped 17.89% MoM to 41,400 mt.

Asia: Imports from Mongolia dropped 20.91% MoM to 113,100 mt. Imports from Kazakhstan dropped 1.35% MoM to 133,500 mt. Imports from Indonesia rose 49.81% MoM to 47,400 mt.

Europe: Imports from Spain fell 32.09% MoM to 40,200 mt.