November Copper Pipe & Tube Export Orders Surge Significantly YoY! Exports to Thailand Account for the Largest Share! [SMM Analysis]

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       According to data compiled from the General Administration of Customs, China imported 1,606.2 mt of copper pipe & tube in November 2024, up 27.4% MoM and up 48.7% YoY. From January to November, cumulative imports reached 19,072.8 mt, up 43% YoY.

        In November 2024, China exported 35,199 mt of copper pipe & tube, up 13.4% MoM and up 26.5% YoY. From January to November, cumulative exports totaled 344,026.3 mt, up 15.8% YoY.

        Continuing the trend of previous months, country-specific data shows that in November, China's imports of copper pipe & tube from Iran increased again, accounting for 28%, pushing Thailand to second place with a share of only 27%. Iranian copper pipe & tube has a price advantage, and it is expected that in 2025, China will continue to rank Iran as a top source for copper pipe & tube imports.

        Data Source: General Administration of Customs

        On the export side, as the export tax rebate was officially canceled on December 1, many companies rushed to export before December. Additionally, November and December are peak seasons for copper pipe & tube, and the impact of overseas Christmas holidays in December also contributed to the rush to deliver orders in November, resulting in high overall export volumes. Concerns over subsequent US tariffs also played a role, with China's exports of copper pipe & tube to the US accounting for only 5% in November. The top destination was Thailand, accounting for 20%.

        In summary, China's imports and exports of copper pipe & tube in 2024 showed significant YoY growth. However, in 2025, the cancellation of tax rebates and tariff policies will pose challenges for exports. Most large enterprises are expected to shift towards the Southeast Asian market, with exports increasingly leaning towards processing trade.

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