Peru, the second-largest producer of copper ore and concentrates, exported 388,255mt of copper ore in April, down by 41pc from 657,022mt in April 2019. Exports declined as the country’s mines suspended operations amid the COVID-19 crisis.

 

China remained the top importer of copper ores and concentrates from Peru and imported 207,004mt of copper ores, down by 59pc from 508,945mt a year ago. China resumed smelter activities in March giving demand for copper concentrates and refined copper a lift. Downstream demand also increased. China’s April imports of copper concentrates rose by 22.5pc and refined copper imports rose by 13.9pc from a year ago, despite being the largest copper producer in the world. 

 

Germany’s imports of copper ore and concentrates from Peru dropped by 56.5pc to 22,467mt from 51,725mt in April 2019. Japan’s imports, however, rose by 71pc to 52,983mt in April from 31,001mt a year ago and South Korea’s imports dropped by 2pc to 35,214mt.

 

A predicted copper raw material shortage due to mines staying shut caused LME copper prices to rise by $471.5/mt or 10pc in April. The Peruvian government, however, permitted copper mines to resume operations in a phased manner starting May as the country’s economy heavily depends on the copper mining sector, previously reported by Davis Index.

 

 

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