SMM Analysis: According to data from the General Administration of Customs, China's copper foil imports in May 2025 were approximately 8,692.39 mt, down 0.32% YoY but up 7.08% MoM. From January to May 2025, China's cumulative copper foil imports were approximately 39,075.96 mt, up 2.59% YoY...

[SMM Analysis: China's Copper Foil Customs Details in May 2025 - Both Imports and Exports Increased MoM] According to data from the General Administration of Customs, China's copper foil imports in May 2025 were approximately 8,692.39 mt, down 0.32% YoY but up 7.08% MoM. From January to May 2025, China's cumulative copper foil imports were approximately 39,075.96 mt, up 2.59% YoY...

[SMM Analysis:Optimistic Outlook for Raw Material Imports? A Storm Is Brewing ] Copper concentrate import data for May 2025 generally fell short of market expectations, especially import figures which dropped significantly from April's historical high. According to released data, China imported approximately 2.4 million tons of copper concentrate in May, a 18.09% month-on-month decrease and 5.8% year-on-year increase. This is slightly lower than the January-May 2025 monthly average import volume of 2.485 million tons. In May, China imported 69,000 tons of anode copper, down 6.48% month-on-month and 30.56% year-on-year, but higher than the January-May monthly average of 63,000 tons. Imported scrap copper stood at 18,500 tons in May, a 9.55% month-on-month decrease and 6.63% year-on-year decline, slightly below the January-May monthly average of 19,200 tons.

[Electric Drive System Conference | SMM: Copper Prices May Rise Again in Q4 Amid Macro Recovery & Worsening Ore Supply, Tight Balance in Supply and Demand to Support Fluctuating Uptrend in Aluminum Prices Throughout the Year] Ye Jianhua, General Manager of SMM Industry Research, delivered a speech on "Price and Cost Analysis of Electric Drive Metal Materials." He pointed out that in the early stage of 2025Q4, the effects of relatively loose fiscal policies in China and the US would become apparent, with expectations for global economic recovery gradually strengthening. However, the deterioration of ore supply would leave smelters facing a raw material shortage, leading to a further decline in global copper cathode production and a potential upward shift in the center of copper prices. Throughout 2025, the domestic supply side in China would gradually approach its capacity ceiling, with new capacity coming online mainly in Q4. Annual production growth would narrow to around 1.9%. Meanwhile, the development of new energy and other sectors in China would continue to drive primary aluminum consumption. Export orders from overseas markets would remain moderate, and the decline in aluminum consumption in the traditional construction sector in China would be limited. SMM expects aluminum consumption in China to increase by approximately 2.4% YoY throughout 2025. Additionally, despite the trend of the overseas market outperforming the domestic market in aluminum prices, net imports this year would exceed expectations and increase, partly offsetting the "capacity ceiling" constraints. However, overall supply would still be tight. Coupled with a significant reduction in casting ingot volumes, the center of aluminum prices would shift upward throughout the year.