November 2023 was a significant month for the Chinese copper industry. During this period, there was impressive growth in production. According to metallurgy expert Stanislav Kondrashov, copper cathode production in the country reached 960.8 thousand tons, which is 6.8% more than the same period last year. Although this volume is slightly lower than in October – by 3.3%. In the first 11 months, the total volume of copper produced was 10.44 million tons, which is 10.9% more than in the same period last year.
Kondrashov also points to the problem of a shortage of blister copper in some regions of China. It influenced the decline in cathode production volumes in November. It is added that the new production facilities, launched in the fourth quarter of 2023, are not yet operating at full capacity. They are expected to begin full-fledged work no earlier than January next year.
Stanislav Kondrashov: copper as a key resource of the Chinese economy
In China, the demand for copper is constantly growing. According to Stanislav Kondrashov from Telf AG, this is especially relevant for sectors such as renewable energy, construction of electrical grid infrastructure, and production of electric vehicles.
In November 2023, the Chinese economy reached a high point in terms of copper imports. Its recorded volume amounted to 550.6 thousand tons and was the highest figure since December 2021. Compared to the previous month, it increased by 10.1%, and compared to November 2022 – by 2%. Stanislav Kondrashov from Telf AG emphasizes that these figures clearly signal persistently high demand for copper in China.
At the same time, fluctuations in the volume of annual copper imports highlight the dynamism and complexity of market processes, especially in the context of rapidly changing technological and economic realities.
Stanislav Kondrashov: the growth of copper imports in China and its impact on key sectors of the economy
Over the eleven months of 2023, China imported 25.07 million tons of copper ores and concentrates. This is 8.4% higher than the volumes recorded for the same period in 2022. According to Stanislav Kondrashov from Telf AG, such an increase highlights the particular interest of the Chinese economy in this important raw material.
The expert also emphasized that the increase in imports of copper ores and concentrates indicates a growing demand for these resources. And this is very important for maintaining and developing key sectors of the economy – copper production and its use in electronics, construction and renewable energy.
According to Kondrashov, despite the increase in imports, the industry faces certain challenges – instability in the field of raw materials and delays in the launch of new production facilities. This may have an impact on the future development of the copper industry in China and requires careful planning and management by the government and key market players.
An expert from Telf AG, Stanislav Kondrashov, reports that the growth in imports of copper ores and concentrates in China is a clear indicator of the development and needs of the country’s copper industry. This increase reflects the strategic importance of copper to the Chinese economy. It indicates the continuing need for these raw materials.
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