China's imports of copper ore from Australia plummeted to zero

Customs data released on Wednesday showed that China’s imports of copper concentrate from Australia were completely depleted in December last year. For the first time in 16 years, the monthly import volume was zero. Due to the tension between China and Australia, smelters have avoided Australian supplies.

According to data from the General Administration of Customs of China, China imported zero tons of copper ore and copper concentrate from Australia last month. The imports in November and December of 2019 were 26,717 tons and 110,930 tons, respectively.

According to the records of the International Copper Research Group (ICSG), this is the first time since April 2004 that China’s imports of copper concentrate from Australia have dropped to zero.

Data show that in 2020, Australia is China's sixth-largest supplier of copper concentrates, with 783,476 tons, a decrease of 25% from 2019 and the lowest annual total since 2016. In 2019, Australia is the fifth largest supplier.

In November last year, Australian media reported that due to the deterioration of relations between the two countries, companies have been instructed not to buy copper concentrate and at least six other commodities from Australia.

This unofficial ban makes Australian copper concentrate sellers have to find other buyers for their goods in markets such as Japan, South Korea and Europe, while smelters that use copper to smelt refined copper are in desperate need of additional raw materials in a market that is in short supply.

According to data released on January 14th, China imported 1.89 million tons of copper concentrate from all countries in December last year, and 21.77 million tons in 2020.

Chile remained China's largest supplier last year with 7.72 million tons, followed by Peru, Mexico and Mongolia.