Imports and Exports of Copper Semis are Expected to Drop on the Month in April

SHANGHAI, May 16 (SMM) - The domestic demand for copper semis dropped again in April after experiencing a short-term recovery in March, thus SMM predicts that China copper semis imports will be 33,500 mt in April, down 1.7% MoM and 14.8% YoY. The import volume will then come in at 126,000 mt in January-April, down 22.3% YoY.

The export volume is expected to be 57,900 mt in April, down 4.08% MoM and up 4.47% YoY. The exports will total 223,600 mt in January-April, down 4.9% YoY.

According to customs data, in the first three months, the imports of copper rod and copper wire were 37,600 mt, up 2.3% YoY; copper plate/sheet and strip 19,100 mt, a year-on-year decrease of 27.7%; copper foil 30,800 mt, down 40.5% YoY; copper tube 4,400 mt, down 38.9% on the year. The sharp decrease in the import volume of copper foil, for instance, suggested that the quality of domestic copper semis improved significantly amid its growing output.

The exports of copper rod and wire totalled 25,000 mt in January-March, up 23%; copper plate/sheet and strip 24,800 mt, up 6%; copper foil 33,600 mt, down 3%; and copper tube 80,400 mt, down 19%. Generally, SMM expects export volume to drop MoM in April, driven by the falling demand in the Southeast Asia market, though Shanghai Export Containerized Freight Index (SCFI) has shown an upward trend. As of May 5, the SCFI added 41.36 points or 4.3% from 956.93 at the beginning of April to 998.29.