Copper Pipe & Tube Imports and Exports Both Increased YoY, January-February.

According to customs data compiled by SMM, China's total copper pipe & tube imports from January to February 2025 reached 3,731.3 mt, up 8.8% YoY, while total exports amounted to 66,219.4 mt, up 12.8% YoY.

In January 2025, China imported 1,505.8 mt of copper pipe & tube, up 14.1% MoM but down 10.9% YoY. Exports in January stood at 40,255.7 mt, up 28.5% MoM and 20.5% YoY.

In February 2025, China imported 2,225.5 mt of copper pipe & tube, up 47.8% MoM and 27.9% YoY. Exports in February were 25,863.7 mt, down 35.9% MoM but up 2.6% YoY.

By country, the main destinations for copper pipe & tube exports from January to February remained Thailand and the US. Notably, amid the fluctuating US tariffs, domestic rush for export orders was evident, with copper pipe & tube exports in February showing a significant MoM decline from January.

By country, the main sources of copper pipe & tube imports from January to February were Thailand, Japan, and Iran. However, the share of imports from Iran has declined significantly since year-end 2024. The share of imports from Thailand has rebounded to 40%, while Japan's import share has remained stable.

Looking ahead to March, the current record high COMEX copper prices have driven up global copper prices, resulting in significant import losses. However, domestic air conditioner manufacturers' production schedules continue to show strong growth, and the operating rate of domestic copper pipe & tube is expected to improve, which is likely to contribute to imports, potentially showing a slight MoM increase. On the export side, despite the uncertainty surrounding tariffs, exports to Southeast Asia may continue to increase YoY due to the low base in February, and a MoM increase is also expected.