China's copper market unaffected by Kazakhstan protests

The delivery and transportation of copper concentrates to China were unaffected by the turmoil in Kazakhstan, market sources said Jan. 6, sounding a note of caution about the rapidly developing situation.

Anti-government protests rocked Kazakhstan over the recent days, after a sudden hike in LNG prices drew public ire. The country's presidential cabinet resigned in response to the disturbance and a state of emergency has been declared from Jan. 5-19.

Buying interest from Chinese smelters was low, as they were holding ample inventory, sources said.

China's imports of copper ore and concentrates from Kazakhstan reached 765,117 mt in the first 11 months of 2021, making up for 3.6% of the country's total copper ore and concentrates imports, data released by the General Administration of Customs showed.

China's copper cathodes imports from Kazakhstan were at 242,826 mt between January and November 2021, accounting for 8% of the country's cathodes imports.

Delivery at China's Alashankou port, the major port entry for imported cargoes from Kazakhstan, has faced challenges due to coronavirus-led movement restrictions.