Preliminary China’s Customs information confirmed sturdy home demand for industrial metals. Imports of unwrought Copper rose 9.1% YoY (+4.3% MoM) to 480kt in July, ING’s commodity consultants Ewa Manthey and Warren Patterson be aware, ING’s commodity consultants Ewa Manthey and Warren Patterson be aware.
Copper focus shipments surge amid strong refining output
“Nonetheless, cumulative Copper imports are nonetheless down 2.7% YoY to three.1mt within the first seven months of the yr. Uncertainty over US tariffs on Copper imports shifted provide from China to the US within the first half of the yr. This development might reverse within the second half, as Trump drops plans for a 50% tariff on refined Copper.”
“In the meantime, Copper focus imports elevated 18% YoY (+8.9% MoM) to 2.6mt final month, as sturdy home refined output boosted demand for uncooked supplies. On a year-to-date foundation, imports of Copper focus rose 7.7% YoY to 17.3mt.”
