China's 2025 copper imports lowest since 2020 amid major price rally
China's unwrought copper imports in 2025 fell to the lowest level since 2020, China's customs data showed on Wednesday, as high prices weighed on demand.
The top consumer imported 5.32-million metric tons of unwrought copper in 2025, down 6.4% from 2024, data from the General Administration of Customs showed, the lowest since record-high imports in 2020.
December imports increased 2.3% to 437 000 tons compared with November, the data showed.
Unwrought copper and copper product imports into China include anode, refined, alloy and semi-finished copper products.
Copper prices in 2025 posted the biggest rally since 2009. Benchmark three-month copper on the London Metal Exchange CMCU3 rose nearly 42% for the whole year, and 11% in December alone.
The price gains in December came as investors expected refined copper supplies to tighten in non-United States markets, where inflows surged due to a CME premium to the LME over tariffs concerns.
Copper stocks in COMEX warehouses climbed more than 400% in 2025, while the LME saw a decline of more than 40% in its on-warrant copper during the year, according to both exchanges.
Copper prices also found support from unexpected mine outages in 2025, and booming demand for data centres and electrification, where the metal is a key material.
Chinese smelters increased output throughout 2025, driving imports of copper concentrates and ores, which rose to 30.31-million tons, an all-time high and up 7.9% from 28.11-million tons in 2024.
China produced 13.32-million tons of refined copper in the eleven months from January to November, up 9.8% year on year, according to latest data from the National Bureau of Statistics.
Copper concentrates and ores imports in December were 2.7-million tons, up from 2.53-million tons in November.
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