China's trade in refined copperIMPORT SLUMP, EXPORT SURGEChina's imports of copper have been decelerating since September, when the ​LME copper price first broke the $10,000 level and started building towards its January peak. LME registered copper inventoryHOLIDAY HIGHWhat's remarkable, given the sharp drop in imports, is the scale of the seasonal build in Chinese domestic copper stocks this year. The country's output of refined copper grew by 9% year-on-year in 2025, translating into an extra million tons of metal, according to Macquarie Bank. Yet China's imports of copper concentrate increased ​by 7.8% over the same period. China's ability to secure sufficient raw materials to fuel its rising self-sufficiency in refined copper has come at a cost for everyone else.

Source: The Edge Markets April 10, 2026 01:25 UTC