Traders Adopted a Cautious Wait-and-See Approach, China's Copper Scrap Imports Slightly Declined MoM in March

According to data from the General Administration of Customs online query, China's copper scrap imports in March were 189,700 mt, down 1.87% MoM and 13.01% YoY. Among them, the US shipments decreased 28.31% MoM to 22,500 mt, losing its position as the largest supplier, while Japan's shipments increased 15% MoM to around 27,000 mt, becoming the top supplier. Previously, the US had been China's largest copper scrap supplier, but with the recent escalation of tariff disputes, market uncertainty has significantly increased, and copper scrap import traders are cautiously watching.