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Australia China cuts imports of Australian copper concentrate by more than half in October

13:15  25 november  2020
13:15  25 november  2020 Source:   reuters.com

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Looking forward, we estimate Imports of Copper Ores & Concentrate in China to stand at 1855138.47 in 12 months time. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond

China has ordered traders to stop purchasing at least seven categories of Australian commodities, ratcheting up Commodities traders in China won’t be able to import products including coal, barley, copper ore and concentrate China is Australia ’s most important trading partner, with agricultural

(Reuters) - China's imports of copper concentrate from Australia in October fell by more than half from the previous month, customs data showed on Wednesday, adding weight to speculation Beijing has placed an unofficial ban on shipments.

a view of a mountain: FILE PHOTO: A plane flies above the Degrussa copper mine in Western Australia © Reuters/MELANIE BURTON FILE PHOTO: A plane flies above the Degrussa copper mine in Western Australia

Media reports early this month said the Chinese government had instructed companies not to purchase copper ore and concentrate - as well as at least six other commodities ranging from coal to lobster - from Australia from Nov. 6 because of souring relations between the two countries.

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China is Australia ’s most important and biggest trading partner. Australia exported about 78 million tonnes in October , according to Refinitiv. China buys over 80% of Australia ’s production. Copper price jumps as China turns away Australian concentrate . Copper within sight of June 2018

(Bloomberg) -- China has ordered traders to stop purchasing at least seven categories of Australian commodities, ratcheting up tensions with a key trading partner in its most sweeping retaliation yet.Commodities traders in China won’t be able to import products including coal, barley, copper ore

Even in October, copper concentrate shipments from Australia were down sharply, plunging 54.2% from September to 40,496 tonnes, General Administration of Customs data showed. That was also down 34.5% year-on-year and the lowest monthly total since April.

China's overall imports of copper concentrate - the raw material smelters use to make refined metal - from all countries were around 21% lower last month from September's bumper total above 2 million tonnes.

Australia accounted for 4.8% of China's total copper concentrate imports in 2019, making it the fifth-biggest supplier after Chile, Peru, Mongolia and Mexico.

It is also China's biggest iron ore supplier and one of its main suppliers of bauxite, the primary source of aluminium.

Trade ties between the two countries have deteriorated since Australia in 2018 became the first country to publicly ban China's Huawei from its 5G network, and worsened after Canberra called for an enquiry into the origins of the novel coronavirus.

Asked about Australian vessels waiting to deliver coal into Chinese ports on Wednesday, foreign ministry spokesman Zhao Lijian said a lot of coal imports failed to meet environmental standards.

(Reporting by Tom Daly; additional reporting by Mai Nguyen; editing by Barbara Lewis)

The government plans to make a formal protest against China .
The wine tariffs add to the growing list of sanctions imposed on Australian produce, with some accusing China of punishing Australia for its demands for a coronavirus inquiry. The federal government is now planning to make a formal protest to the World Trade Organisation, but Trade Minister Simon Birmingham has stopped short of calling the sanctions a form of 'economic coercion' by China.

usr: 1
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