Statistical analysis of copper ore and its concentrate import data in the first quarter of 2016

Customs data show that in March 2016, China imported 1.
37 million tons of copper ore and its concentrate, with an amount of 1050080 million yuan (US dollars converted into RMB).

Imports of copper ore and its concentrates fell by 6.
04% in March compared to the previous month and increased by 3.
6%
compared to the same period last year.

The increase in copper concentrate imports in the first quarter was mainly due to the outbreak
of imports in January and February.
In addition to the factors of better import profitability from December last year to early January this year, the release of capacity and maintenance of some new smelters last year and this year have increased the demand for copper concentrate, while the domestic copper mine supply is difficult to meet the demand due to copper prices, and copper concentrate imports have been further increased
.

According to analysis, China's copper concentrate demand growth rate will reach 11%
in 2016.
As the center of gravity of copper prices continued to shift downward in 2016, it was difficult for domestic copper mine production to increase significantly in the short term; In addition, foreign copper mines have further squeezed the market share of domestic copper mines, and it is reported that the new production capacity of global copper mines will reach 1.
45 million tons
in 2016.
Therefore, China's sharply increased copper ore demand in 2016 still needs to rely on imported copper ore to meet, and it is expected that the growth of imported copper ore will continue for some time
.