Copper Pipe & Tube Imports and Exports Both Plunge Sharply in September: Why During Peak Season?

China's copper pipe & tube imports in September totaled 817.4 mt, hitting the lowest level this year, down 27.46% MoM and 57.64% YoY, with a cumulative decline of 10.96% YoY. Exports of copper pipe & tube in September were 25,892.1 mt, down 11.44% MoM and 6.52% YoY, while cumulative exports increased 2.26% YoY.The import and export performance in September aligns with the August forecast, showing declines in both copper pipe & tube imports and exports.

Import side:

Due to consecutive declines in production schedules of air conditioner manufacturers, the operating rate of copper pipe & tube is expected to remain weak from September to November. According to SMM's market communication, pipe factories described September and October as the worst "peak season" in recent years. Additionally, copper prices surged to over 85,000 yuan/mt, leading enterprises to slow procurement, reduce raw material inventory, and cut demand for imported raw materials.

Export side:

Thailand and the US remain the largest destinations for China's copper pipe & tube exports. However, US tariffs on copper pipe & tube have significantly reduced direct exports to the US, and Thailand's exports to the US have also declined. In October and November, export orders typically rise ahead of the overseas Christmas season, but performance in October this year is expected to be weak, with both YoY and MoM figures projected to pull back.