division | Main contents | Implications |
|---|---|---|
| global economy | Manufacturing recovery and expansion of eco-friendly industries | Copper imports increase due to demand for electric vehicles and renewable energy. |
| raw material prices | LME copper price range: USD 9,800 → USD 10,200 per ton | High price stability, cost burden factor |
| Exchange rate and logistics costs | Rising exchange rates and easing transportation costs | Limited short-term cost burden |
| ESG and carbon regulations | Copper smelting energy is somewhat carbon-intensive. | Strengthening the preference for low-carbon, recycled copper |
Copper is a key metal in the electrical, electronic, and eco-friendly industries, and is emerging as a strategic resource in the carbon-neutral era .
item | detail |
|---|---|
| HS code | 74 (Copper and articles thereof) |
| Main subcategories | 7402 (refined copper and alloys), 7408 (wires), 7411 (pipes), 7418 (other products) |
| Import volume in 2024 | approximately USD 12.3 billion (+5.8%) |
| Major demand sources | Electrical and electronics (45%), automobiles and electrical equipment (25%), construction (15%), machinery and shipbuilding (10%), and others (5%) |
| structure | Refined copper → processed materials → wire and parts imports in that order |
Rapid growth in electric vehicles, secondary batteries, and renewable energy equipment is driving increased copper imports.
ranking | importing country | specific gravity(%) | Features and Risks |
|---|---|---|---|
| 1 | Chile | 29.6 | The world's largest source of high-quality refined copper |
| 2 | japan | 20.4 | High-purity copper plate and wire materials |
| 3 | china | 16.7 | Semi-finished products and processed materials |
| 4 | Indonesia | 9.8 | Expanding smelting capacity, emerging new suppliers |
| 5 | vietnam | 7.1 | Wires and processed materials |
| 6 | Peru | 5.8 | Mining and Refining Supply |
| 7 | USA | 4.2 | Advanced alloys and industrial materials |
| etc | 6.4 | Multinational suppliers including Canada |
The top five countries account for approximately 83.6% of the market , and the supply chain is comprised of three axes: South America, Japan, and Southeast Asia .
Risks: Chilean mine strikes and environmental regulations, and a surge in Chinese domestic consumption → possible decline in exports.
nation | Import share (%) | Δ Proportion (previous quarter) | characteristic |
|---|---|---|---|
| Chile | 29.6 | ▼0.5 | Impact of the mine strike |
| japan | 20.4 | ▲0.6 | Wire and high-purity plate center |
| china | 16.7 | ▼0.4 | Impact of expanding domestic demand |
| Indonesia | 9.8 | ▲0.4 | New refinery supply |
| vietnam | 7.1 | ▲0.2 | Increase in imports of processed materials |
| Peru | 5.8 | = | Stable mine supply |
| USA | 4.2 | = | Special alloys and parts |
| etc | 6.4 | ▼0.3 | Diversification in progress |
Increased weighting of Japan and Southeast Asia , concurrent efforts to mitigate mining risks in South America.
division | 2023 Q3 | 2024 Q3 | Increase/decrease (%) | characteristic |
|---|---|---|---|---|
| Refined and unprocessed copper | 2.31 Mt | 2.48 Mt | +7.4 | Industrial recovery and electricity demand |
| Processed materials (plates, rods, tubes) | 0.89 Mt | 0.95 Mt | +6.7 | Wire and automotive materials |
| Wires and cables | 0.46 Mt | 0.49 Mt | +6.5 | EV and infrastructure expansion |
| Copper scrap (recycling) | 0.53 Mt | 0.56 Mt | +5.7 | Circular economy and carbon reduction demand |
Imports of refined copper and processed materials are growing at a rapid pace , with demand for wires in particular expanding significantly.
Item | 2024 Q1 (USD/t) | 2024 Q2 | 2024 Q3 | QoQ Δ(%) |
|---|---|---|---|---|
| refined copper | 9 430 | 9 780 | 10 120 | +3.5 |
| Wire sheet material | 10 960 | 11 180 | 11 350 | +1.5 |
| Alloy/Tube | 9 840 | 9 970 | 10 100 | +1.3 |
| Scrap (recycling) | 6 420 | 6 600 | 6 780 | +2.7 |
Overall unit price increases gradually due to electricity costs and carbon tax factors .
branch | characteristic | Volatility (0–1) |
|---|---|---|
| Q1 | Inventory adjustment machine | 0.45 |
| Q2 | Manufacturing and export expansion period | 0.60 |
| Q3 | Power and construction peak | 0.74 |
| Q4 | Delivery adjustment and stockpiling | 0.57 |
item | detail |
|---|---|
| tariff | Most FTAs are duty-free, with some exceptions for scrap. |
| Non-tariff | Environmental and Mining Ethics Standards Requirement (ESG Certification) |
| Domestic alternative | LS MnM, Korea Zinc, and others are expanding their domestic refining capabilities. |
| assignment | Low-carbon smelting technology, strengthening circulation and recycling systems |
characteristic | evaluation | analysis |
|---|---|---|
| Carbon emissions impact | award | High smelting power consumption |
| ESG Risk | middle | Environmental disputes in some South American mines |
| Net Zero Contribution | award | Essential materials for electric vehicles and renewable energy |
| circular economy | award | Scrap imports and recycling are actively expanding. |
importing country | Policy (0–1) | Logistics (0–1) | Trust Index |
|---|---|---|---|
| Chile | 0.32 | 0.30 | 0.78 |
| japan | 0.22 | 0.24 | 0.84 |
| china | 0.36 | 0.35 | 0.70 |
| Indonesia | 0.28 | 0.30 | 0.76 |
| vietnam | 0.30 | 0.31 | 0.75 |
| Peru | 0.33 | 0.32 | 0.77 |
| USA | 0.25 | 0.28 | 0.81 |
Average Trust Index ≈ 0.77 (good) – Japan and South America supply lines are stable, but China risks exist.
industry | Major companies | Imported items | characteristic |
|---|---|---|---|
| Electrical and Electronics | Samsung Electronics and LG Electronics | High-purity copper plates and cables | Semiconductor and electrical equipment |
| Electric vehicles and batteries | Hyundai Motor Company, LG Electronics, and SK On | Wires, busbars, and collectors | High import proportion |
| Construction and shipbuilding | Hyundai Engineering and Construction · Samsung Heavy Industries | Pipes and plates | For plants |
| power facilities | KEPCO and Hyosung Heavy Industries | Cables and Transcores | Maintaining a stable income |
characteristic | Currently (2025 Q3) | Compared to the previous quarter (Δ%) | analysis |
|---|---|---|---|
| ΔImport | +5.6% | ▲0.8 | Increasing demand for electric vehicles and electricity |
| ΔPrice | +3.1% | ▲0.6 | Impact of rising LME prices |
| ΔCountryShare | +0.4% | ▲0.2 | Increased share of Japan and Indonesia |
| Trust Index | 0.77 | = | stable supply chain |
| Forecast (3M) | +6.0% | ▲ | Continued investment in renewable energy and the power grid |
Summary: HS 74 imports are in a solid positive trend .
The expansion of electric vehicle and renewable energy facilities is a key driver of copper imports, and the three-axis supply chain (South America, Japan, and Southeast Asia) remains stable.
division | Suggestion | Expected effect |
|---|---|---|
| 1 | Introduction of a low-carbon, recycled copper certification system | Strengthening CBAM and ESG Response |
| 2 | Expanding copper scrap recovery and refining infrastructure | Reducing import dependence |
| 3 | LME · AI Price-Linked Procurement System Development | Cost stabilization |
| 4 | Signing of MOU for cooperation on South American mining supply chains | Risk diversification |
| 5 | Support for R&D on copper materials for electric vehicles and energy | Promotion of high value-added industrial development |
HS 74 (Copper and Articles Thereof) Imports Trade Index – 2025 Q3
ΔImport +5.6% , ΔPrice +3.1% , Trust 0.77 , Forecast (3M) +6.0% → Continued import growth
driven by expansion of electric vehicles, power, and renewable energy infrastructure , and transition to low-carbon refining and recycled copper are key future strategies.
