Copper Wire Rod Exports Plummet 30% Amid High Prices
Copper wire rod exports from China plummeted nearly 30% in July compared to the previous month, due to high prices that curbed foreign demand.
According to Shanghai Metals Market, total copper wire rod exports were 23,800 metric tons, down 27.01% monthly and up 39.6% year-over-year.
The decline was attributed to higher copper prices and elevated imported copper premiums that pushed up export costs and quotes simultaneously, with sparse overseas inquiries and only essential orders providing support.
Processing trade continued to dominate China's copper wire rod exports in July, accounting for 62.79% of total exports. The top five markets for copper wire rod exports were Malaysia, Thailand, Vietnam, Indonesia, and the Philippines, which together accounted for over 60% of total exports.