China’s imports of copper cathode estimated at 360,000 mt in November

In October 2023, China imported a total of 333,900 mt of copper cathode, a month-on-month increase of 1.73% and a year-on-year increase of 34.09%. The total import volume from January to October was 2.8204 million mt, a year-on-year decrease of 4.89%. The import window opened in late August, and the supply of imported cargoes increased significantly in October. Due to improved Panama Canal congestion and a slight improvement in logistics in Africa, copper imports from Chile, Mexico, Congo increased significantly compared with the previous month. After the National Day holidays, the import window basically remained open. It is expected that the supply from cancelled warrants from LME warehouses in Asia will increase remarkably in November. Customs data showed that China's imports of unwrought copper and copper semis totalled 550,600 mt in November, and the import volume of copper cathode would be 360,000 mt.