China's Copper Wire Rod Exports Plummet Amid High Prices and Port Congestion

China's copper wire rod exports continued their downward trend in August, with total exports reaching 20,900 mt, down 12.15% month-over-month but up 29.52% year-over-year.

The main reasons for this decline were high copper prices, which suppressed downstream procurement demand, and port congestion caused by weather conditions, leading to increased imported copper premiums and export costs.

Additionally, export vessels were delayed at ports, slowing down the export pace. Despite this, processing trade continued to dominate China's copper wire rod exports in August, accounting for 90.13% of total exports.

The top five export markets for China's copper wire rod in August were Malaysia, the Philippines, Thailand, Vietnam, and India, which together accounted for over 60% of total exports.