South African demand continues, traditional markets show steady growth — Significant MoM increase in copper rod exports in August [SMM Analysis]

According to the latest customs data, in August 2024, China's exports of copper cathode wire with a maximum cross-section dimension >6mm reached 5,609 mt, up 45.2% MoM and 6.6% YoY, showing a positive growth trend (HS Code 74081100).

Notably, in 2023, China's exports of copper rod to South Africa were zero, and only 2 mt to Turkey. However, in August 2024, exports to South Africa continued the strong momentum from July, reaching 540 mt, indicating a rapid increase in demand for high-quality copper rod in the South African market. Meanwhile, the Turkish market also showed strong potential, with exports reaching 200 mt in August, a hundredfold increase from the entire previous year. This change fully demonstrates the competitiveness of China's copper rod in the international market and rapidly changing market demand.

In terms of export destinations, traditional markets such as the Philippines, Thailand, and Malaysia continue to rank among the top three for China's copper rod exports, reflecting the sustained high recognition and stable demand for Chinese copper rod products in these regions.