Copper Wire Rod Exports Remain Weak in August, High Copper Prices and Premiums Suppress Overseas Demand [SMM Analysis]

In August, total exports of copper wire rod (HS codes 74081100 and 74081900) increased both YoY and MoM. The specific data are as follows:

According to customs statistics, China's total copper wire rod exports reached 20,900 mt, down 12.15% MoM but up 29.52% YoY. Exports of refined copper wire with a maximum cross-sectional dimension exceeding 6mm stood at 10,400 mt, down 26.85% MoM but up 36.67% YoY. Monthly exports of other refined copper wire reached 10,500 mt, up 9.39% MoM and up 23.19% YoY.

In August 2026, copper wire rod exports (HS codes 74081100 and 74081900) continued to pull back, mainly due to three factors: first, copper prices kept rising, suppressing downstream procurement demand; second, weather conditions caused port congestion, driving up imported copper premiums and export costs; third, export vessels were delayed at ports and shipments slowed, with the export pace clearly slowing down. By trade mode, China's copper wire rod exports in August 2026 remained dominated by processing trade. Processing trade with imported materials accounted for 59.98% of exports, and processing trade with supplied materials accounted for 30.15%, together making up 90.13%. In addition, Entrepot Trade by Customs Special Control Area accounted for 7.66%, and Ordinary Trade accounted for 2.19%.

By destination, the top five export markets for China's copper wire rod in August 2026 were Malaysia, the Philippines, Thailand, Vietnam, and India, together accounting for over 60% of total exports, with regional concentration declining somewhat. Specifically: affected by copper prices shooting up and high container costs, China's copper rod exports to Saudi Arabia fell sharply by 99.96% MoM; South Africa saw notable export growth due to a low export base in the previous period combined with concentrated release of rigid demand in August.

In summary, China's copper rod exports remained weak in August, mainly due to high copper prices suppressing downstream demand, overseas demand recovery falling short of expectations, and port congestion caused by weather. Entering September, although the traditional peak season has begun, copper prices remain elevated, and with imported copper premiums rising, export processing fee quotes have moved up somewhat, while demand has yet to show clear improvement. Copper wire rod exports in September are expected to rebound only slightly.