China’s imports of copper ore and concentrate in March were 2.33 million tons [SMM Analysis]

In March 2024, China imported 2.330 million tons of copper concentrate and ore, a month-on-month increase of 5.9% and a year-on-year increase of 15.3%; from January to March, China imported a total of 6.988 million tons of copper ore and concentrate, an increase of 5.1% over the same period last year.

Most of the reduction in copper concentrate imports came from Peru, Ecuador, Laos and Canada. In March 2024, China imported 573,200 tons of copper concentrate from Peru, a decrease of 6.36% or 38,900 tons from the previous month, an increase of 2.33% year-on-year; China imported 35,300 tons of copper concentrate from Ecuador, a decrease of 42.23% or 25,800 tons from the previous month, an increase of 4.36% year-on-year; China imported 10,900 tons of copper concentrate from Laos, a decrease of 63.56% or 19,000 tons from the previous month, a decrease of 45.86% year-on-year; China imported 10,100 tons of copper concentrate from Canada, a decrease of 74.17% or 29,000 tons from the previous month, a decrease of 65.59% year-on-year.

Most of the increase in copper concentrate imports came from Kazakhstan, Mexico, Serbia, the Democratic Republic of the Congo, the Russian Federation and other countries. In March 2024, China imported 162,400 tons of copper concentrate from Kazakhstan, an increase of 58.19% or 59,700 tons month-on-month, an increase of 20.05% year-on-year; China imported 139,800 tons of copper concentrate from Mexico, an increase of 109.49% or 73,100 tons month-on-month, and a year-on-year increase of 59,700 tons. China imported 79,500 tons of copper concentrate from Serbia, a month-on-month increase of 81.13% or 35,600 tons, and a year-on-year increase of 48.54%; China imported 6.54 million tons of copper concentrate from Congo (DRC), a month-on-month increase of 76.96% or 28,500 tons, and a year-on-year increase of 42.65%; China imported 48,700 tons of copper concentrate from the Russian Federation, a month-on-month increase of 77.81% or 21,300 tons, a year-on-year increase of 73.75%.