China's copper concentrate imports for the full year of 2024 are 28.114 million mt, slightly below the expected value [SMM Analysis].

Published: Jan 17, 2025 16:35

Save

[SMM Analysis: China's Imported Copper Concentrates Totaled 28.114 Million mt in 2024, Slightly Below Expectations] In December 2024, China imported 2.522 million mt of copper concentrates and ores, up 12.3% MoM and up 1.7% YoY. From January to December, the cumulative imports of copper ores and concentrates reached 28.114 million mt, up 2.1% YoY. SMM previously expected the total imports of copper concentrates in 2024 to be 28.56 million mt, slightly higher than the actual figure.

》View SMM Copper Prices, Data, and Market Analysis

》Subscribe to View SMM Historical Spot Metal Prices

In December 2024, China's imported copper concentrates and ores totaled 2.522 million mt, up 12.3% MoM and up 1.7% YoY. From January to December, cumulative imports of copper ores and concentrates reached 28.114 million mt, up 2.1% YoY. SMM previously expected the total annual import volume of copper concentrates in 2024 to be 28.56 million mt, slightly higher than the actual figure.

Overall, China's copper concentrate imports were driven by the expansion of demand from smelters and the continuous increase in China's primary smelting projects. In 2024, new primary smelting projects in China included Guangxi Jinchuan, Southwest Copper, Jinchuan Group, Baotou Huading, and Chifeng Fubang Copper. According to SMM, new primary smelting projects in 2025 will include Tongling Nonferrous, Chifeng Jintong, Shandong Humon Smelting Co., Ltd. Weihai, Yingkou Shenghai Chemical, and Yingkou Jianda Shenghai Nonferrous Chemical. SMM expects the total annual import volume of copper concentrates in 2025 to reach 7.42 million mt (metal content) and 29.68 million mt, up 5.6% YoY.

》Click to View the SMM Copper Industry Chain Database

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

10 hours ago

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

10 hours ago

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

10 hours ago