SHANGHAI, Mar 25 (SMM) - According to data from the General Administration of Customs, China's copper foil imports in January 2024 were approximately 7,034.12 tons, a year-on-year decrease of 16.02%, and a month-on-month decrease of 11.78%; China's copper foil imports in February were approximately 7,133.60 tons, a year-on-year decrease of 9.20%, and a month-on-month increase of 1.41%; China’s cumulative copper foil imports from January to February 2024 were approximately 14,167.72 tons, a year-on-year decrease of 12.72%.
In January 2024, China's copper foil import amount was US$117.2309 million, a year-on-year decrease of 3.99%, and a month-on-month decrease of 9.03%; in February, China's copper foil import amount was US$117.183 million, a year-on-year decrease of 2.61%, and a month-on-month decrease of 0.04%; from January to February, China's cumulative import amount of copper foil was US$234.414 million, a year-on-year decrease of 3.31%.
In January 2024, China's copper foil export volume was approximately 4,164.40 tons, a year-on-year increase of 20.58%, and a month-on-month increase of 16.77%; in February, China's copper foil export volume was approximately 3,227.53 tons, a year-on-year decrease of 9.93%, and a month-on-month decrease of 22.50%; from January to February, China's cumulative export volume of copper foil was approximately 7,391.93 tons, a year-on-year increase of 5.05%.
In January 2024, China's copper foil export value was US$45.7824 million, a year-on-year increase of 13.15% and a month-on-month increase of 15.68%; in February, China's copper foil export value was US$37.362 million, a year-on-year decrease of 13.13% and a month-on-month decrease of 18.39%; from January to February, China's cumulative export value of copper foil was US$83.1443 million, a year-on-year decrease of 0.39%.
From January to February 2024, China's copper foil imports decreased year-on-year, while exports increased year-on-year. The trade deficit was approximately US$151.27 million, a year-on-year decrease of approximately US$7.7 million from US$158.97 million in the same period last year, showing China's dependence on imports continues to improve.
The main supplier countries and regions of China's copper foil imports (excluding copper alloy foil) from January to February 2024 were Taiwan, Malaysia and South Korea, with import volumes of 8008.86 tons, 1455.38 tons and 1289.21 tons respectively.
From January to February 2024, the main export destination countries and regions of China's copper foil exports (excluding copper alloy foil) were Egypt, Thailand and Malaysia, with export volumes of 1,452.85 tons, 1,079.92 tons and 1,005.82 tons respectively.
Affected by the Chinese New Year holiday, downstream companies suspended work during the holidays, and the entire industry chain had poor expectations for the post-holiday market. The stocking volume was less than that of the same period. Domestic demand was overall weak, and copper foil imports were at a low level. In terms of exports, companies reported that overseas consumer electronics industry-related orders have picked up, and orders exported to Egypt have increased significantly.
Domestic demand for copper foil is expected to rebound in March, but orders in the lower reaches of the industry chain are weak compared to previous years due to high inventories. Domestic copper foil production is climbing. Imports are expected to grow only slightly. In terms of export orders, March has entered the peak season for overseas market. Export volume in March is often at a high level. According to SMM, companies have reported that overseas orders have picked up after the CNY. Therefore, copper foil export volume is expected to increase in March.
