Core Insights - The copper smelting industry in China is experiencing a significant trade deficit, with imports far exceeding exports, leading to an increasing trend in trade deficit from 2019 to 2024 [1][2]. Trade Deficit - In 2024, the total import and export value of copper smelting-related products in China reached 811.86 billion yuan, with a trade deficit expanding by 114.51 billion yuan [1]. - For the first seven months of 2025, the trade deficit was recorded at 195.81 billion yuan, indicating a continued trend of high import reliance [2]. Import Volume and Value - The import volume of copper smelting-related products in China reached 33.02 million tons in 2024, marking a 2.34% increase from 2023, with an import value of 807.29 billion yuan, which is a 14.48% increase compared to 2020 [3]. - In the first seven months of 2025, the import volume was 20.00 million tons, with an import value of 507.56 billion yuan [3]. Import Price Trends - The average import price of copper smelting-related products has shown an upward trend from 2019 to July 2025, with significant increases noted during the 2020-2021 period due to supply chain disruptions caused by the COVID-19 pandemic [5]. Export Volume and Value - The export volume of copper smelting-related products in China was 456,400 tons in 2024, with an export value of 31.60 billion yuan, reaching a peak during the observed period [7]. - For the first seven months of 2025, the export volume was 421,600 tons, with an export value of 28.92 billion yuan [7]. Export Price Trends - The average export price of copper smelting-related products has generally increased from 2019 to July 2025, although some products exhibited significant price volatility due to smaller export volumes [10].