According to customs data, China's copper pipe & tube imports totaled 1,155.1 mt in October, up 41.31% MoM but down 8.37% YoY; cumulative imports reached 15,585.2 mt, down 10.77% YoY. Exports of copper pipe & tube stood at 25,287.9 mt in October, down 2.33% MoM and 18.57% YoY; cumulative exports reached 309,326.6 mt, up 0.16% YoY.
The MoM increase of over 40% in copper pipe & tube imports in October was mainly due to the low base in September (the lowest in nearly five years). Although imports rebounded in October, they remained low from a five-year perspective. Domestic demand for copper pipe & tube imports is expected to continue declining.
The cumulative growth rate of exports continued to narrow. Copper pipe and tube exports performed positively in H1, but declined steadily after the US imposed tariffs on copper pipe and tube. October is traditionally a peak season for exports, but no significant performance was seen within the year. Observations indicate that exports from both China and Thailand to the US have been declining. It is understood that local copper pipe and tube capacity in the US has been slow to ramp up, keeping local copper pipe and tube processing fees elevated. Copper pipe and tube exports are expected to remain down YoY in the last two months of 2025.
