China: Copper imports up and exports down y-o-y in CY'22

China's imports of copper were recorded at 32.95 million tonnes (mnt) in Calendar Year (CY'22) against 30.62 mnt in CY'21, an increased by 8%. The export volume of China stood at 0.92 mnt in CY'22, a decrease of 2% as compared to CY'21 which was around 0.93 mnt.

China's import overview

Out of the total imports, copper ore/concentrates increased by 8% to 25.31 mnt, semi-finished products up by 9% to 5.43 mnt, and finished products, down by 22% to 0.44 mnt. Copper scrap imports increased by 5% to 1.77 mnt in CY'22. Export destinations like Kazakhstan added a significant volume for China's import figure in the CY'22.

The import volumes of copper in December 2022 was 2.76 mnt from 2.81 mnt in December 2022, down by 11% m-o-m. The fall in December occured due to sharp rise in LME's copper price led to a signifcant loss in imports. Additionally, rising Covid cases in China led to a decline in the demand.

Country-wise imports

• Exports from Chile decrease in CY'22: Export volumes stood at 9.57 mnt in CY'22, with a decrease of 2% from 9.79 mnt in CY'21. Export volumes also decreased by 9% y-o-y from 0.94 mnt in December 2021.
  
  
• Exports from Peru up in CY'22: Peru's export volumes fell to 6.44 mnt in CY'22 as against 5.70 mnt in CY'21, up by 13%. Shipments increased in December 2022 by 10% from 0.54 mnt in December 2021.
  
  
• Exports from Kazakhstan increase in CY'22: Exports from Kazakhstan to China were drastically up by 66% to 1.77 mnt in CY'22 from 1.07 mnt in CY'21. The y-o-y volumes fell largely by 155% from 0.05 mnt in December 2021.
  
  

China's export overview

The exports of copper semi-finished products were down by 13% to 235,530 t, finished products rose marginally by 3% to 681,219 t followed by scrap which decreased by 21% from 126 t in CY'21 to 100 t in CY'22.

The country's copper exports were down by 5% m-o-m to 59,165 t in December 2022 as compared to the previous month.

Country-wise exports

• Imports to South Korea increase in CY'22: The export volume from China stood at 147,081 t in CY'22, a slight increase of 2% as against 143,858 t in CY'21. Export volumes were marginally up by 3% from 5 153 t in December 2021.
  
  
• Imports to Taiwan rise in CY'22: China's export to Taiwan were at 117,723 t in CY'22, a rise of 10% from 106,955 t in CY'21. There was an increase of 2% y-o-y from 6,409 t in December, 2021 as compared to December, 2022.
  
  
• Imports to Vietnam down in CY'22: Export volumes from China to Vietnam were at 83,921 t, down by 5% in CY'22 as compared to around 88,259 t in CY'21. The y-o-y volume stood at 9,233 t in December 2021, a fall of 29% compared to December 2022.