Chinese Copper Imports Surge in 2020 on COVID19 Recovery
China Copper ImportsSmall Caps

Chinese Copper Imports Surge in 2020 on COVID19 Recovery

China’s General Administration of Customs data showed that China imported record volumes of unwrought copper and copper products in 2020 totalled 6.68

China’s General Administration of Customs data showed that China imported record volumes of unwrought copper and copper products in 2020 totalled 6.68 million tonnes, up a third from 2019. However, copper imports in December 2020 slumped for a third consecutive month to 512,332 tonnes, down 8.7% from 561,310 tonnes in November and its lowest monthly level since May. Imports of copper concentrate were 1.89 million tonnes in December 2020, up 3% from 1.831 million tonnes in November, but down from 1.928 million tonnes a year earlier. On a full year basis, concentrate imports missed a new record, with shipments totaling 21.77 million tonnes

On the other hand exports of unwrought aluminum and aluminum products were 456,130 tonnes in December 2929, its highest monthly levels since March 2020, but down 8.7% from 561,310.7 tonnes in November and down 4.6% year-on-year. Full-year shipments were down from 2019 at 4.86 million tonnes, their lowest annual total since 2017 after the economic impact of the virus around the world hit demand for Chinese metal.

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