Copper: Movement

Why China buys most of the world's concentrate

Why China buys most of the world's concentrate What this tab covers How it flows between countries: the largest bilateral trade routes drawn on a world map, 2024 UN Comtrade export and import values with the top exporters and importers by share, plus shipping routes, chokepoints and trade restrictions.

Two flows dominate, each worth about $100 billion in 2024 (Comtrade). In ore and concentrate (HS 2603), Chile supplied 31.5% of export value and Peru 21.2%; China took 63.2% of imports and Japan 12.8%. That mirrors China's role as refiner, with 8% of mining but about 45% of refining. In refined cathode (HS 7403), DR Congo led exports with 26.0% and Chile 18.8%. China bought 42.6% of cathode imports and the US 9.2%. Andean output leaves by sea, while Congolese metal travels long road and rail corridors to the coast.

Main trade routes, 2024

Chart: World map of the largest trade flows

Exporter (size = share of world exports) Importer (share of world imports) Largest bilateral flows (width = value) Shipping chokepoint UN Comtrade 2024, reported exports by the top four exporters of each traded form to their partners (US$). Bubbles: shares of reported world exports and imports for the main traded form. Hover a line or circle for values.

Refined copper cathode · HS 7403

World exports 2024 $91.5 bn sum of 40 reporting countries World imports 2024 $94.5 bn sum of 40 reporting countries Top exporters, share of value DR Congo 26% Chile 18.8% Japan 7.4% China 4.9% Kazakhstan 4.5% Australia 3.9% Top importers, share of value China 42.6% United States 9.2% Italy 5.5% Taiwan (Other Asia, nes) 5.4% Germany 4.2% Turkey 3.7%

Copper ores and concentrates · HS 2603

World exports 2024 $96.9 bn sum of 40 reporting countries World imports 2024 $106.5 bn sum of 40 reporting countries Top exporters, share of value Chile 31.5% Peru 21.2% Indonesia 8.2% Australia 4.3% Brazil 4.3% Canada 3.9% Top importers, share of value China 63.2% Japan 12.8% South Korea 4.8% India 3.5% Spain 2.4% Bulgaria 2.4% UN Comtrade, reporter declarations to the world, US$. Exports and imports are reported separately, so totals differ. Re-exporting hubs (Netherlands, Singapore, Switzerland, UAE) can appear large.