According to the latest data from the National Bureau of Statistics (NBS), China's copper semis production in November 2024 reached 2.1401 million mt, up 8.8% MoM.
China's copper processing industry continued its trend of regional cluster development. In November, the top five provinces in copper semis production were Jiangxi, Jiangsu, Zhejiang, Guangdong, and Anhui, accounting for 27.6%, 12.8%, 12.8%, 10.3%, and 7.9% of the total production, respectively. Together, these five provinces contributed 71.4% of the national copper semis production.
Specifically, in November, the center of copper prices dropped significantly, downstream orders for related copper semis performed well, and copper semis production increased markedly, hitting a new high for the year. China's copper semis production in November rose by 8.8% MoM, rebounding from 1.9664 million mt in October to 2.1401 million mt. By province and city, among the top ten regions in November, only Gansu province saw a decline in production to 54,200 mt, down 5.41% MoM. Other provinces and cities showed growth, with Tianjin, Jiangxi, Anhui, and Hubei provinces recording increases of over 10%, with specific production volumes of 58,700 mt, 590,800 mt, 168,100 mt, and 95,100 mt, respectively.
SMM has been closely monitoring the consumption trends and operating rates of enterprises in the copper semis market. As the year-end approaches, the copper processing industry will gradually enter the off-season, leading to a decline in demand for copper semis compared to November. However, the copper pipe & tube industry is currently in its peak season, resulting in increased demand for copper semis. SMM expects China's copper semis production in December to drop back slightly.
