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China removed an unofficial restriction on Australian imports and last month, it imported 10,104 metric tonnes of copper ore and concentrate from Australia, increasing the 2023 total amounts to the highest since June 2021, according to customs data.
Since a new administration took office in Canberra in 2022, China has progressively lowered tariffs and unofficial prohibitions against Australian exports.
The Australian government placed restrictions on imports in 2020 during a diplomatic dispute over trade and security. As a result, copper imports from Australia fell to zero in December 2020 after averaging 72,430 tonnes per month for the first 11 months of the same year.
Chinese customs data showed 11,404 tons of copper concentrate imports from Australia in 2021, down to just 7 kg in 2022 and 1 kg in the first 11 months of 2023. Australian customs data showed it exported 27,500 metric tons of copper ores and concentrates worth $44.5 million to China in November, the most for any month since China imposed the informal ban in 2020.
It's possible the November shipments from Australia arrived in China in December and, therefore, were reflected in China's customs data last month, said analysts. Reuters reported in November that Swiss commodity trader Trafigura had agreed to help Chinese smelters clear imports of copper concentrate from Australia.
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