Imports of copper concentrates to China reached a multi-year monthly high in April, with increased shipments from both major supplying countries.

According to data from the General Administration of Customs' online query platform, China's imports of copper ores and concentrates in April reached 2.9244 million mt, up 22.20% MoM and 25.62% YoY. Among them, shipments from Chile continued to rebound to approximately 850,000 mt, maintaining its top position, while Peru's supply stopped declining and significantly rebounded to around 786,800 mt. Despite the sequential and year-on-year increases in China's copper ore imports, which reached a new multi-year monthly high, the downward trend in domestic spot processing fees for copper concentrates has not yet halted.

The following is the supply situation of China's main import sources of copper ores since March 2020:

Source: General Administration of Customs