News
September 3
Summary:
Chinese refined copper trade has been significantly impacted by U.S. tariff pressures and geopolitical tensions. In July, China’s net imports of refined copper dropped to a one-year low, despite record outward shipments—426,000 tons of exports in the first seven months of 2025 were largely re-exports from bonded warehouses.
Because U.S. demand surged ahead of tariff implementation, these exports were quickly routed out of China, depleting domestic inventory. Simultaneously, imports from traditional suppliers like Chile plunged, while sourcing pivoted toward the Democratic Republic of Congo, Russia, and Zambia.
China is now facing tight supplies—scrap copper imports have fallen sharply as well. With domestic demand robust and port inventories dwindling, Chinese smelters are increasingly turning toward European scrap supplies, though potential export restrictions there may complicate the outlook.
Why it matters:
This development directly affects companies producing copper-derived semi-finished products, such as plates, bars, coils, and tubes. Supply constraints, diverging trade flows, and inventory tightness can all influence raw material availability and pricing in your sector.
