Chinese Copper imports have reached their limit – Commerzbank

Source Fxstreet

In April, China imported a record-breaking 2.92 million tons of Copper ore and concentrate. Over the last 12 months, a total of 28.8 million tons were imported, which is also a record high. China's Copper imports have changed significantly in recent years, Commerzbank's FX analyst Volkmar Baur notes.

Between 2010 and 2024, imports increase by over 300%

"While in 2010 China imported around 1.5 times more Copper ore and concentrate than unwrought Copper and Copper products, this ratio has now risen to over five. Between 2010 and 2024, imports of ore and concentrate increased by over 300%, whereas imports of unwrought Copper and products only increased by 30% in total over the same period. Consequently, domestic production of Copper products increased significantly during this period, more than doubling."

"However, current record levels of Copper ore and concentrate imports should not obscure the fact that import growth has slowed significantly in recent months. Even though April did show a year-on-year increase of 24.6%, examining a 12-month period reveals that import momentum has cooled, falling from around 9% growth in April last year to 2.4% today."

"However, this may be more due to the global supply of Copper ore than demand from China. According to the US Geological Survey, supply increased by just 1.8% last year, and China imported around 65% of all global Copper ore and concentrate in 2023."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold price drifts lower amid improved market sentimentThe Gold price (XAU/USD) extends the decline during Asian trading hours on Monday. A trade deal reached between the US and China last week on how to expedite rare earth shipments to the US was viewed positively by markets.
Author  FXStreet
16 hours ago
The Gold price (XAU/USD) extends the decline during Asian trading hours on Monday. A trade deal reached between the US and China last week on how to expedite rare earth shipments to the US was viewed positively by markets.
placeholder
Bitcoin Price Uptrend Intact — Extension Likely if Momentum HoldsBitcoin price started a fresh increase above the $107,500 zone. BTC is now consolidating and might aim for a move above the $108,800 resistance. Bitcoin started a fresh increase above the $107,500
Author  NewsBTC
16 hours ago
Bitcoin price started a fresh increase above the $107,500 zone. BTC is now consolidating and might aim for a move above the $108,800 resistance. Bitcoin started a fresh increase above the $107,500
placeholder
Ethereum Price Tests Resistance — Breakout Could Spark RallyEthereum price started a fresh increase above the $2,480 zone. ETH is now consolidating gains and might soon aim for a move above the $2,520 resistance. Ethereum started a fresh upward move above the
Author  NewsBTC
16 hours ago
Ethereum price started a fresh increase above the $2,480 zone. ETH is now consolidating gains and might soon aim for a move above the $2,520 resistance. Ethereum started a fresh upward move above the
placeholder
Trump Backs Bitcoin in Latest White House Speech – Best Crypto to Buy Before the Next Bull RunIn Friday’s White House press conference, Donald Trump yet again declared his support for Bitcoin, calling it ‘amazing’ and pointing out its growing use in the economy. It has
Author  NewsBTC
17 hours ago
In Friday’s White House press conference, Donald Trump yet again declared his support for Bitcoin, calling it ‘amazing’ and pointing out its growing use in the economy. It has
placeholder
Bitcoin Spot ETFs Register $2 Billion Inflows As Institutional Demand Surges – DetailsThe US Bitcoin spot ETFs logged over $2 billion in net inflows last week, marking a three-week streak of positive momentum. Despite a bearish start to June, with $128.81 million in net outflows
Author  NewsBTC
17 hours ago
The US Bitcoin spot ETFs logged over $2 billion in net inflows last week, marking a three-week streak of positive momentum. Despite a bearish start to June, with $128.81 million in net outflows
Related Instrument
goTop
quote