According to data from the General Administration of Customs' online inquiry platform, China's imports of copper ore and concentrates in May were 2.3952 million mt, down 17.55% MoM and up 6.61% YoY. Among them, shipments from the top two suppliers, Chile and Peru, both pulled back, with Peru's shipments pulling back by more than 20%. Since mid-May, spot copper concentrate TCs in China have stabilized at low levels, and the tight supply situation remains difficult to alleviate.
Below is the supply situation of China's main copper ore import sources since March 2020:
Data source: General Administration of Customs
