China's Copper Concentrate Imports from South American Countries Showed Mixed Trends in July [SMM Analysis]

In July 2024, China imported 2.165 million mt of copper concentrates and ores, down 6.3% MoM, up 9.6% YoY. From January to July, the cumulative imports of copper ores and concentrates reached 16.064 million mt, up 4.5% YoY.

In terms of supply, the increase in copper concentrate imports mainly came from Chile, Ecuador, Spain, and the Philippines. In July 2024, China imported 815,600 mt of copper concentrates from Chile, up 3.1% MoM, up 62.7% YoY, with a MoM increase of 24,500 mt. China imported 65,900 mt of copper concentrates from Ecuador, up 100.87% MoM, up 78.58% YoY, with a MoM increase of 33,100 mt. China imported 61,600 mt of copper concentrates from Spain, up 130.92% MoM, up 31.19% YoY, with a MoM increase of 34,900 mt. China imported 53,100 mt of copper concentrates from the Philippines, up 222.86% MoM, up 376.34% YoY, with a MoM increase of 36,600 mt.

Regarding the decrease in copper concentrate imports, in July 2024, China imported 410,200 mt of copper concentrates from Peru, down 16.14% MoM, down 27.13% YoY, with a MoM decrease of 78,900 mt. China imported 71,000 mt of copper concentrates from Serbia, down 35.63% MoM, down 27.49% YoY, with a MoM decrease of 39,300 mt. China imported 20,700 mt of copper concentrates from Brazil, down 62.75% MoM, up 22.88% YoY, with a MoM decrease of 34,800 mt. China imported 900 mt of copper concentrates from Saudi Arabia, with a MoM decrease of 44,300 mt.