According to the latest data disclosed by the General Administration of Customs, China’s imported copper cathode market, while maintaining the 2025 baseline, is facing dual challenges: the continued rise in the share of EQ copper and whether global supply will continue to be diverted. China’s cumulative copper cathode imports in January-February 2026 totaled 356,900 mt, down 33.13% YoY.

Data released by the online query platform of customs statistics showed that China’s copper cathode imports in February 2026 were 203,588.22 mt, down 18.78% MoM and down 33.28% YoY. The DRC was the largest origin, with China importing 70,661.8 mt of copper cathode from the DRC during the month, down 33.06% MoM and down 28.63% YoY. Chile was the second-largest origin, with China importing 25,429.03 mt of copper cathode from Chile during the month, up 8.18% MoM and down 32.18% YoY. The following is a breakdown of China’s copper cathode imports in February 2026, compiled based on data from the official website of the General Administration of Customs: Source: General Administration of Customs Note: 1. Including unwrought copper cathode with a copper content >99.9935%; unwrought other refined copper cathode; unwrought refined copper wire bars; unwrought refined copper cathode sections; unwrought refined copper billets; and other unwrought refined copper. 2. The total imports (grand total) also include data for some origins not listed in the table above. (Wenhua Composite)

As of January 20, 2026, the full-year import data for copper cathode in 2025 has been disclosed. According to data compiled by SMM from the General Administration of Customs, EQ copper cathode (referring primarily to copper cathode not registered with the SHFE or LME, as well as a small portion of registered cathode still traded as EQ in the domestic market) accounted for 67.54% of China's total imports in 2025, an increase of 5.37 percentage points compared to 2024.

According to data from the General Administration of Customs, China's total imports of copper cathode reached 249,991 mt in April, down 19.06% MoM and 11.97% YoY.

Online inquiry data from the General Administration of Customs (GAC) showed that China's imports of copper cathode in April were 300,200 mt, down 15.27% MoM and 1.73% YoY. Among them, the Congo remained the largest supplier, with a supply volume of 113,800 mt, which increased slightly MoM but decreased YoY. Russia was the second-largest supplier, with supply volumes increasing by over 50% MoM in March, but in April, supply volumes decreased by over 60% MoM to approximately 25,600 mt. Data source: General Administration of Customs

Data from the Online Inquiry Platform for Customs Statistics showed that China's imports of copper cathode reached 300,181.941 mt in April 2025, down 15.27% MoM and 1.73% YoY. The Democratic Republic of the Congo (DRC) was the largest supplier, with 113,788.254 mt of copper cathode imported from the DRC that month, up 1.12% MoM but down 3.81% YoY. Russia was the second-largest supplier, with 25,550.879 mt of copper cathode imported from Russia that month, down 64.99% MoM but up 117.21% YoY. Below is a breakdown of copper cathode imports in April 2025 compiled based on data from the General Administration of Customs of China (GACC) website: Note: 1. This includes copper cathode with an unwrought copper content >99.9935%, unwrought other refined copper cathode, unwrought refined copper wire ingots, unwrought refined copper cathode sections, unwrought refined copper billets, and other unwrought refined copper. 2. The total import volume (Total) also includes data for some origins not listed in the table above.