[{"data":1,"prerenderedAt":912},["ShallowReactive",2],{"ticker-data":3,"story-article/in-charts-coppers-shifting-trade-flows":540,"story-settings":901},[4,52,82,112,148,186,228,259,296,328,371,412,450,481,510],{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":8,"today":9,"last":10,"percentageChange":11,"yearToDate":12,"yearOnYear":13,"oneYearIndexTrend":14,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-27","2wk","Updated every 2 weeks","Lithium",411.01,408.51,0.61,75.85,175.57,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-05-13",{"date":19,"value":20},"2026-04-29",372.51,{"date":22,"value":23},"2026-04-15",354.35,{"date":25,"value":26},"2026-04-01",346.55,{"date":28,"value":29},"2026-03-18",351.32,{"date":31,"value":32},"2026-03-04",346.6,{"date":34,"value":35},"2026-02-18",324,{"date":37,"value":38},"2026-02-04",337.67,{"date":40,"value":41},"2026-01-21",298.32,{"date":43,"value":44},"2026-01-07",233.73,{"date":46,"value":47},"2025-12-24",203.79,"/lithium/prices",null,false,true,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":53,"today":54,"last":55,"percentageChange":56,"yearToDate":57,"yearOnYear":58,"oneYearIndexTrend":59,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Carbonate",449.85,451.12,-0.28,77.12,181.56,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},404.38,{"date":22,"value":65},381.25,{"date":25,"value":67},371.52,{"date":28,"value":69},373.01,{"date":31,"value":71},366.63,{"date":34,"value":73},349.17,{"date":37,"value":75},356.81,{"date":40,"value":77},316.73,{"date":43,"value":79},253.98,{"date":46,"value":81},220.12,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":83,"today":84,"last":85,"percentageChange":86,"yearToDate":87,"yearOnYear":88,"oneYearIndexTrend":89,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Hydroxide",358.35,350.28,2.3,76.32,168.94,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},328.09,{"date":22,"value":95},316.95,{"date":25,"value":97},311.86,{"date":28,"value":99},321.41,{"date":31,"value":101},319.14,{"date":34,"value":103},295.42,{"date":37,"value":105},310,{"date":40,"value":107},270.4,{"date":43,"value":109},203.24,{"date":46,"value":111},177.17,{"publishedDate":19,"updateFrequency":113,"updateFrequencyText":114,"label":115,"today":116,"last":117,"percentageChange":118,"yearToDate":119,"yearOnYear":120,"oneYearIndexTrend":121,"url":147,"subscription":49,"isProtected":50,"hasAccess":51},"1wk","Updated every week","Cobalt",244.61,252.61,-3.17,3.99,97.72,[122,123,124,127,129,132,133,136,138,141,143,146],{"date":19,"value":116},{"date":25,"value":117},{"date":125,"value":126},"2026-03-25",252.45,{"date":28,"value":128},252.84,{"date":130,"value":131},"2026-03-11",253.48,{"date":31,"value":126},{"date":134,"value":135},"2026-02-25",256.64,{"date":34,"value":137},255.58,{"date":139,"value":140},"2026-02-11",253.31,{"date":37,"value":142},252.26,{"date":144,"value":145},"2026-01-28",241.15,{"date":40,"value":145},"/cobalt/prices",{"publishedDate":149,"updateFrequency":6,"updateFrequencyText":7,"label":150,"today":151,"last":152,"percentageChange":153,"yearToDate":154,"yearOnYear":155,"oneYearIndexTrend":156,"url":185,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-20","Nickel",135.83,133.05,2.09,12.5,30.68,[157,158,160,163,166,168,170,172,174,176,179,182],{"date":149,"value":151},{"date":159,"value":152},"2026-05-06",{"date":161,"value":162},"2026-04-22",125.43,{"date":164,"value":165},"2026-04-08",124.51,{"date":125,"value":167},123.94,{"date":130,"value":169},123.51,{"date":134,"value":171},122.7,{"date":139,"value":173},123.79,{"date":144,"value":175},128.07,{"date":177,"value":178},"2026-01-14",120.74,{"date":180,"value":181},"2025-12-31",104.29,{"date":183,"value":184},"2025-12-17",103.44,"/nickel/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":227,"subscription":49,"isProtected":50,"hasAccess":51},"2026-04-30","monthly","Natural Graphite",82.93,82.39,0.66,1.66,-0.87,[196,197,199,202,205,207,210,212,215,218,221,224],{"date":187,"value":190},{"date":198,"value":191},"2026-03-31",{"date":200,"value":201},"2026-02-27",81.92,{"date":203,"value":204},"2026-01-30",81.69,{"date":180,"value":206},81.58,{"date":208,"value":209},"2025-11-28",81.35,{"date":211,"value":209},"2025-10-31",{"date":213,"value":214},"2025-09-30",81.74,{"date":216,"value":217},"2025-08-29",81.56,{"date":219,"value":220},"2025-07-31",82.47,{"date":222,"value":223},"2025-06-30",83.13,{"date":225,"value":226},"2025-05-30",83.77,"/natural-graphite/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":229,"today":230,"last":231,"percentageChange":232,"yearToDate":233,"yearOnYear":234,"oneYearIndexTrend":235,"url":258,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",84.01,79.79,5.29,12.86,12.75,[236,237,238,240,242,244,246,248,250,252,254,256],{"date":187,"value":230},{"date":198,"value":231},{"date":200,"value":239},75.72,{"date":203,"value":241},74.61,{"date":180,"value":243},74.44,{"date":208,"value":245},76,{"date":211,"value":247},72.75,{"date":213,"value":249},71.92,{"date":216,"value":251},71.46,{"date":219,"value":253},70.35,{"date":222,"value":255},67.35,{"date":225,"value":257},65.78,"/synthetic-graphite/prices",{"publishedDate":260,"updateFrequency":188,"updateFrequencyText":188,"label":261,"today":262,"last":263,"percentageChange":264,"yearToDate":265,"yearOnYear":265,"oneYearIndexTrend":266,"url":295,"subscription":49,"isProtected":50,"hasAccess":51},"2025-11-17","Anode",77.79,77.96,-0.22,-1.93,[267,268,270,272,274,277,280,282,284,287,290,292],{"date":260,"value":262},{"date":269,"value":263},"2025-10-15",{"date":271,"value":263},"2025-09-15",{"date":273,"value":263},"2025-08-15",{"date":275,"value":276},"2025-07-15",77.93,{"date":278,"value":279},"2025-06-16",78.88,{"date":281,"value":279},"2025-05-15",{"date":283,"value":279},"2025-04-15",{"date":285,"value":286},"2025-03-17",79.89,{"date":288,"value":289},"2025-02-17",78.97,{"date":291,"value":289},"2025-01-15",{"date":293,"value":294},"2024-12-16",79.32,"/anode/prices",{"publishedDate":297,"updateFrequency":188,"updateFrequencyText":188,"label":298,"today":299,"last":300,"percentageChange":301,"yearToDate":301,"yearOnYear":302,"oneYearIndexTrend":303,"url":327,"subscription":49,"isProtected":50,"hasAccess":51},"2026-01-15","Cathode",72.79,64.08,13.59,43.38,[304,305,307,309,311,313,315,317,318,320,322,325],{"date":297,"value":299},{"date":306,"value":300},"2025-12-15",{"date":260,"value":308},62.01,{"date":269,"value":310},53.51,{"date":271,"value":312},49.5,{"date":273,"value":314},47.28,{"date":275,"value":316},46.05,{"date":278,"value":316},{"date":281,"value":319},48.08,{"date":283,"value":321},48.92,{"date":323,"value":324},"2025-03-18",52.79,{"date":288,"value":326},50.86,"/cathode/prices",{"publishedDate":329,"updateFrequency":188,"updateFrequencyText":188,"label":330,"today":331,"last":332,"percentageChange":333,"yearToDate":334,"yearOnYear":335,"oneYearIndexTrend":336,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[337,338,340,343,346,349,352,355,358,361,364,367],{"date":329,"value":331},{"date":339,"value":332},"2025-02-28",{"date":341,"value":342},"2025-01-31",71.45,{"date":344,"value":345},"2024-12-31",75.74,{"date":347,"value":348},"2024-11-29",76.98,{"date":350,"value":351},"2024-10-31",77.34,{"date":353,"value":354},"2024-09-30",77.43,{"date":356,"value":357},"2024-08-30",80.56,{"date":359,"value":360},"2024-07-31",82.99,{"date":362,"value":363},"2024-06-28",87.2,{"date":365,"value":366},"2024-05-31",90.7,{"date":368,"value":369},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":372,"updateFrequency":6,"updateFrequencyText":7,"label":373,"today":374,"last":375,"percentageChange":376,"yearToDate":377,"yearOnYear":378,"oneYearIndexTrend":379,"url":411,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-21","Black Mass",54.15,51.47,5.21,25.5,92.33,[380,381,383,386,389,392,395,398,401,404,406,408],{"date":372,"value":374},{"date":382,"value":375},"2026-05-07",{"date":384,"value":385},"2026-04-23",48.63,{"date":387,"value":388},"2026-04-09",48.6,{"date":390,"value":391},"2026-03-26",47.29,{"date":393,"value":394},"2026-03-12",46.18,{"date":396,"value":397},"2026-02-26",45.8,{"date":399,"value":400},"2026-02-12",47.34,{"date":402,"value":403},"2026-01-29",49.57,{"date":297,"value":405},43.15,{"date":180,"value":407},47.05,{"date":409,"value":410},"2025-12-18",41.51,"/recycling/black-mass-prices",{"publishedDate":413,"updateFrequency":188,"updateFrequencyText":188,"label":414,"today":415,"last":416,"percentageChange":417,"yearToDate":418,"yearOnYear":419,"oneYearIndexTrend":420,"url":449,"subscription":49,"isProtected":50,"hasAccess":51},"2026-03-19","Rare Earths",172.27,182.38,-5.54,20.73,54.49,[421,422,424,427,430,432,435,437,440,443,445,447],{"date":413,"value":415},{"date":423,"value":416},"2026-03-05",{"date":425,"value":426},"2026-02-19",179.86,{"date":428,"value":429},"2026-02-05",155.4,{"date":431,"value":429},"2026-01-22",{"date":433,"value":434},"2026-01-08",145.37,{"date":46,"value":436},142.69,{"date":438,"value":439},"2025-12-11",141.67,{"date":441,"value":442},"2025-11-27",136.29,{"date":211,"value":444},132.15,{"date":213,"value":446},139.82,{"date":216,"value":448},145.27,"/rare-earths/prices",{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":451,"today":452,"last":453,"percentageChange":454,"yearToDate":455,"yearOnYear":456,"oneYearIndexTrend":457,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",111.93,124.92,-10.4,-2.67,-3.42,[458,459,460,462,464,466,469,471,473,475,477,479],{"date":213,"value":452},{"date":216,"value":453},{"date":219,"value":461},109.9,{"date":222,"value":463},100.47,{"date":225,"value":465},103.62,{"date":467,"value":468},"2025-04-30",109.47,{"date":329,"value":470},115.87,{"date":339,"value":472},117.3,{"date":341,"value":474},114.57,{"date":344,"value":476},115,{"date":347,"value":478},117.82,{"date":350,"value":480},111.9,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":482,"today":483,"last":484,"percentageChange":485,"yearToDate":486,"yearOnYear":487,"oneYearIndexTrend":488,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",99.44,96.91,2.61,2.37,-3.84,[489,490,491,493,495,497,499,501,503,505,506,508],{"date":213,"value":483},{"date":216,"value":484},{"date":219,"value":492},97.09,{"date":222,"value":494},94.93,{"date":225,"value":496},97.13,{"date":467,"value":498},97.89,{"date":329,"value":500},101.4,{"date":339,"value":502},93.25,{"date":341,"value":504},98.94,{"date":344,"value":496},{"date":347,"value":507},98.69,{"date":350,"value":509},101.87,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":511,"today":512,"last":513,"percentageChange":514,"yearToDate":515,"yearOnYear":516,"oneYearIndexTrend":517,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":899,"relatedVideos":900},133953797589100,"59607a8c-5b31-469f-b9bc-aeac11f2b378","In charts: Copper’s shifting trade flows","in-charts-coppers-shifting-trade-flows","article/in-charts-coppers-shifting-trade-flows",{"_uid":547,"date":548,"tags":549,"editor":571,"content":581,"excerpt":878,"featured":51,"reporter":879,"_editable":880,"component":881,"seo_title":543,"categories":882,"visibility":889,"author_company":696,"data_vis_image":890,"featured_image":893,"seo_description":896,"author_full_name":696,"author_job_title":696,"formattedDate":897,"formattedArticleDate":898},"26e8173a-9b83-4855-a3ff-8691779a974f","2026-01-14 12:00",[550,553,556,559,562,565,568],{"slug":551,"name":552},"chile","Chile",{"slug":554,"name":555},"china","China",{"slug":557,"name":558},"copper-prices","copper prices",{"slug":560,"name":561},"data-visualisation","Data Visualisation",{"slug":563,"name":564},"europe","Europe",{"slug":566,"name":567},"tariffs","Tariffs",{"slug":569,"name":570},"usa","USA",[572],{"slug":573,"name":574,"content":575},"matthew-bird","Matthew Bird",{"job_title":576,"image":577,"bio":579,"linkedin":580},"Senior Editor - Supply Chains & Data Visualisation",{"filename":578},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":582,"content":583},"doc",[584,609,621,628,657,685,697,702,707,715,720,725,738,746,757,762,770,775,788,793,801,806,819,824,829,834,842,847,855,862],{"type":585,"attrs":586,"content":587},"paragraph",{"textAlign":49},[588,591,599,601,607],{"text":589,"type":590},"Over the last year, the global copper market has been largely shaped by ","text",{"text":592,"type":590,"marks":593},"US tariffs",[594],{"type":595,"attrs":596},"link",{"href":597,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/tariff-fears-drove-us-refined-copper-imports-to-record-high-in-july","url",{"text":600,"type":590}," and the resulting ",{"text":602,"type":590,"marks":603},"arbitrage opportunities",[604],{"type":595,"attrs":605},{"href":606,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/lme-cme-arbitrage-continues-to-be-broad-on-forward-curve",{"text":608,"type":590},".",{"type":585,"attrs":610,"content":611},{"textAlign":49},[612,614,620],{"text":613,"type":590},"Here, Benchmark Source charts the shifting of copper trade flows using trade data and expert insights from ",{"text":615,"type":590,"marks":616},"Benchmark’s Copper Service",[617],{"type":595,"attrs":618},{"href":619,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://www.benchmarkminerals.com/copper",{"text":608,"type":590},{"type":622,"attrs":623,"content":625},"heading",{"level":624,"textAlign":49},4,[626],{"text":627,"type":590},"Tariff fears see US imports increase",{"type":585,"attrs":629,"content":630},{"textAlign":49},[631,633,639,641,647,649,655],{"text":632,"type":590},"US President Donald Trump’s ",{"text":634,"type":590,"marks":635},"Section 232 investigation",[636],{"type":595,"attrs":637},{"href":638,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/president-trump-orders-probe-into-copper-imports",{"text":640,"type":590}," on copper last year saw the ",{"text":642,"type":590,"marks":643},"announcement",[644],{"type":595,"attrs":645},{"href":646,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/president-trump-set-to-impose-50-tariff-on-copper",{"text":648,"type":590}," of a ",{"text":650,"type":590,"marks":651},"50% tariff on imports",[652],{"type":595,"attrs":653},{"href":654,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/copper-market-grapples-with-implications-of-50-copper-tariff",{"text":656,"type":590},". This sent the market into a frenzy, with CME-LME arbitrage shooting up and imports into the US increasing in anticipation.",{"type":585,"attrs":658,"content":659},{"textAlign":49},[660,662,668,670,676,678,684],{"text":661,"type":590},"Although it was later announced that the tariffs would ",{"text":663,"type":590,"marks":664},"not impact refined copper",[665],{"type":595,"attrs":666},{"href":667,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/us-copper-prices-collapse-after-tariff-exclusion-for-cathode-imports",{"text":669,"type":590},", the fear of potential US tariffs has ",{"text":671,"type":590,"marks":672},"dramatically shifted global trade flows of copper",[673],{"type":595,"attrs":674},{"href":675,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/us-import-data-shows-changing-growing-copper-flows-into-the-us",{"text":677,"type":590},". An update on the tariffs is due 30 June 2026, with many ",{"text":679,"type":590,"marks":680},"expecting refined copper to be included",[681],{"type":595,"attrs":682},{"href":683,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/arbitrage-opens-on-copper-forward-curve-after-white-house-hints-at-phased-in-copper-cathode-tariff",{"text":608,"type":590},{"type":686,"attrs":687},"blok",{"id":688,"body":689},"a46a7f45-5dc6-4ee2-b64e-2b961f2b44ce",[690],{"id":691,"_uid":692,"type":693,"_editable":694,"component":695,"fixed_height":696,"use_fixed_height":50,"fixed_height_mobile":696,"fixed_height_tablet":696},"27194073","i-f07bcf5d-ada0-4102-b2b1-a4b5eb8bf349","visualisation","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-f07bcf5d-ada0-4102-b2b1-a4b5eb8bf349\", \"id\": \"\"}-->","ContentFlourish","",{"type":585,"attrs":698,"content":699},{"textAlign":49},[700],{"text":701,"type":590},"The latest US trade data show 97kt of copper entering the country in October 2024 – the lowest since February, but still well above pre-2025 norms. This lifts 2025 imports to 1.4Mt, even without November and December data, versus 921kt for all of 2024.",{"type":585,"attrs":703,"content":704},{"textAlign":49},[705],{"text":706,"type":590},"Sources have also told Benchmark that they expect to see imports into the US remaining elevated, with some suggesting they may rise again in the December data and onward. This is because traders and smelters have been able to position themselves in a way that has freed up more units to send to America. The data shows the majority of imports continue to come from Chile.",{"type":686,"attrs":708},{"id":709,"body":710},"af3204bb-2c7b-4f6e-9ca9-b956cefd4ccf",[711],{"id":712,"_uid":713,"type":693,"_editable":714,"component":695,"fixed_height":696,"use_fixed_height":50,"fixed_height_mobile":696,"fixed_height_tablet":696},"27194336","i-fcef6e87-fc83-4970-a320-bdf39d9cce37","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-fcef6e87-fc83-4970-a320-bdf39d9cce37\", \"id\": \"\"}-->",{"type":622,"attrs":716,"content":717},{"level":624,"textAlign":49},[718],{"text":719,"type":590},"Arbitrage and increased smelting capacity see China increase exports",{"type":585,"attrs":721,"content":722},{"textAlign":49},[723],{"text":724,"type":590},"Chinese refined copper exports hit 143kt in November 2025, the second-highest level of monthly exports from the country on record.",{"type":585,"attrs":726,"content":727},{"textAlign":49},[728,730,736],{"text":729,"type":590},"Notably, the US has become a significant destination for copper exported from China. The vast majority of this, however, will have been previously delivered into China rather than produced in China. The enticement of ",{"text":731,"type":590,"marks":732},"large premiums",[733],{"type":595,"attrs":734},{"href":735,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/premiums-across-the-across-the-globe-hit-unprecedented-levels",{"text":737,"type":590}," and arbitrage pulled material out of China and to the US.",{"type":686,"attrs":739},{"id":740,"body":741},"bece8365-d91f-46ac-921e-52c18e272f1e",[742],{"id":743,"_uid":744,"type":693,"_editable":745,"component":695,"fixed_height":696,"use_fixed_height":50,"fixed_height_mobile":696,"fixed_height_tablet":696},"27194022","i-4e41dcb5-1f64-4d4c-8348-2ed91fd3005d","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-4e41dcb5-1f64-4d4c-8348-2ed91fd3005d\", \"id\": \"\"}-->",{"type":585,"attrs":747,"content":748},{"textAlign":49},[749,755],{"text":750,"type":590,"marks":751},"High prices",[752],{"type":595,"attrs":753},{"href":754,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/copper-price-hits-record-13000-t-as-rally-continues",{"text":756,"type":590}," have also drawn material out of China. Chinese sellers of copper are often very price sensitive and will sell to the global market when prices are high, and import when they are low. During periods of high prices in 2025, trade data implied increased deliveries into the LME, with South Korea and Taiwan receiving more copper in those periods.",{"type":585,"attrs":758,"content":759},{"textAlign":49},[760],{"text":761,"type":590},"China has also increased its smelting capacity ~11% in 2025 compared to 2024, increasing the availability of material for export.",{"type":686,"attrs":763},{"id":764,"body":765},"7a627a5a-31e8-40f9-ba6a-e40a47088de1",[766],{"id":767,"_uid":768,"type":693,"_editable":769,"component":695,"fixed_height":696,"use_fixed_height":50,"fixed_height_mobile":696,"fixed_height_tablet":696},"27194874","i-72705a6b-60e8-4db4-a991-6ac4ac2cc24f","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-72705a6b-60e8-4db4-a991-6ac4ac2cc24f\", \"id\": \"\"}-->",{"type":622,"attrs":771,"content":772},{"level":624,"textAlign":49},[773],{"text":774,"type":590},"Chile increases exports to US at expense of other destinations",{"type":585,"attrs":776,"content":777},{"textAlign":49},[778,780,786],{"text":779,"type":590},"As more ",{"text":781,"type":590,"marks":782},"copper from Chile",[783],{"type":595,"attrs":784},{"href":785,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/what-do-chiles-recent-election-results-mean-for-the-lithium-and-copper-industries",{"text":787,"type":590}," heads to the US, less is available in other markets. Despite Chilean copper exports falling 13% year-on-year, its exports to the US increased 28%. By contrast, Europe and China saw notable reductions.",{"type":585,"attrs":789,"content":790},{"textAlign":49},[791],{"text":792,"type":590},"Chinese imports of Chilean copper decreased both as its smelting capacity increased, but also were likely impacted by high premiums and arbitrage dragging copper to the US.",{"type":686,"attrs":794},{"id":795,"body":796},"30091579-d154-4859-bdde-3b8029c43b89",[797],{"id":798,"_uid":799,"type":693,"_editable":800,"component":695,"fixed_height":696,"use_fixed_height":50,"fixed_height_mobile":696,"fixed_height_tablet":696},"27193112","i-db2f28d9-ae2c-47b5-b90a-93d62043ee1e","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-db2f28d9-ae2c-47b5-b90a-93d62043ee1e\", \"id\": \"\"}-->",{"type":622,"attrs":802,"content":803},{"level":624,"textAlign":49},[804],{"text":805,"type":590},"Europe beginning to accept Chinese copper",{"type":585,"attrs":807,"content":808},{"textAlign":49},[809,811,817],{"text":810,"type":590},"With less Chilean material available, ",{"text":812,"type":590,"marks":813},"Europe is looking to other sources",[814],{"type":595,"attrs":815},{"href":816,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://source.benchmarkminerals.com/article/eu-turns-to-drc-copper-as-us-draws-record-chilean-imports",{"text":818,"type":590}," with contacts reporting to Benchmark that Chinese material is increasingly available in Europe, and at competitive premiums compared to South American material, which is often CME deliverable.",{"type":585,"attrs":820,"content":821},{"textAlign":49},[822],{"text":823,"type":590},"In 2025, China exported 37kt of refined copper to Europe (up to November), with 23kt of this being exported in November. This compares to just 2kt in 2024.",{"type":585,"attrs":825,"content":826},{"textAlign":49},[827],{"text":828,"type":590},"Imports of copper from Singapore have also increased notably, hitting 30kt in 2025 (up to November) against 14kt the year before. Benchmark’s sources state that virtually all LME material in Singapore in 2025 was of Chinese origin.",{"type":585,"attrs":830,"content":831},{"textAlign":49},[832],{"text":833,"type":590},"The increase in shipments of Chinese copper shows that European market participants are increasingly willing to accept material that they had previously not taken.",{"type":686,"attrs":835},{"id":836,"body":837},"e7909cec-461c-4286-87b4-9d5559f1170f",[838],{"id":839,"_uid":840,"type":693,"_editable":841,"component":695,"fixed_height":696,"use_fixed_height":50,"fixed_height_mobile":696,"fixed_height_tablet":696},"27193212","i-542c0e6f-e1b0-4d2a-8608-7d094a761ba2","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-542c0e6f-e1b0-4d2a-8608-7d094a761ba2\", \"id\": \"\"}-->",{"type":622,"attrs":843,"content":844},{"level":624,"textAlign":49},[845],{"text":846,"type":590},"Unlock granular market visibility with Benchmark’s Copper Service ",{"type":585,"attrs":848,"content":849},{"textAlign":49},[850],{"text":851,"type":590,"marks":852},"This insight draws from Benchmark extensive Copper Service, featuring supply, demand, cost and price data. Bringing clarity to copper’s future at the heart of the energy transition, this subscription facilitates smarter investment decisions and successful strategy.",[853],{"type":854},"italic",{"type":585,"attrs":856,"content":857},{"textAlign":49},[858],{"text":859,"type":590,"marks":860},"To learn more, submit your details below and our team will be in touch:",[861],{"type":854},{"type":686,"attrs":863},{"id":864,"body":865},"fd60594f-72bf-4a13-94b4-f8489e64ede4",[866],{"id":867,"_uid":868,"_editable":869,"component":870,"wrap_in_box":50,"hubspot_form":867,"redirect_url":871,"success_file":874,"default_height":696,"success_message":696,"v2_hubspot_form":51,"success_sub_text":696,"hidden_field_values":877},"57a99950-73f5-48be-98a4-7324c28e5d0b","i-dfa73a69-744a-4b5d-bff1-fe6829c7f731","\u003C!--#storyblok#{\"name\": \"ContentHubspotForm\", \"space\": \"\", \"uid\": \"i-dfa73a69-744a-4b5d-bff1-fe6829c7f731\", \"id\": \"\"}-->","ContentHubspotForm",{"id":696,"url":696,"linktype":872,"fieldtype":873,"cached_url":696},"story","multilink",{"id":49,"alt":49,"name":696,"focus":49,"title":49,"source":49,"filename":696,"copyright":49,"fieldtype":875,"meta_data":876},"asset",{},[],"Over the last year, the global copper market has been largely shaped by US tariffs and the resulting arbitrage opportunities. Here, Benchmark Source charts the shifting of copper trade flows using trade data and expert insights from Benchmark’s Copper Service. Tariff fears see US imports increase US President Donald Trump’s Section 232 investigation on copper […]",[],"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"26e8173a-9b83-4855-a3ff-8691779a974f\", \"id\": \"\"}-->","article",[883,886],{"slug":884,"name":885},"copper","Copper",{"slug":887,"name":888},"critical-minerals","Critical Minerals","public",{"id":49,"alt":696,"name":696,"focus":696,"title":696,"source":696,"filename":891,"copyright":696,"fieldtype":875,"meta_data":892,"is_external_url":51},"https://res.cloudinary.com/benchmarkminerals/images/f_auto,q_auto/v1768384943/www-production/Chile-copper-exports@2x/Chile-copper-exports@2x.png?_i=AA",{"alt":696,"title":696,"source":696,"copyright":696},{"id":49,"alt":696,"name":696,"focus":696,"title":696,"source":696,"filename":894,"copyright":696,"fieldtype":875,"meta_data":895,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/4da2f62bcb/bm-copper-cathode.jpg",{"alt":696,"title":696,"source":696,"copyright":696},"Over the last year, the global copper market has been largely shaped by US tariffs and the resulting arbitrage opportunities. ","Jan 14, 2026","14th January 2026",[],[],{"id":902,"uuid":903,"name":904,"slug":905,"full_slug":905,"content":906,"relatedArticles":910,"relatedVideos":911},120886048076734,"4b6fbcc0-7881-4fbb-92ee-06d1ed3f3cec","⚙️ Settings","settings",{"_uid":907,"component":905,"black_listed_email_domains":908,"_editable":909,"formattedDate":696,"formattedArticleDate":696},"8dcafbcc-28de-4388-a68e-6b41e24f31bb","direkt.se\nstreetwisereports.com\nalpha-sense.com\nafrica-energy.com\ntcs.com\nmm-markets.com\nsmr-premium.com\nsci99.com\nlondoncib.com\nyeb.com.br\nnewautomotive.org\nsina.com.cn\ngwstrategies.net\noliverwyman.com\ndazeinfo.com\ndataintelo.com\ninfyos.com\nevalueserve.com\ninsightwoo.com\ncrescendoanalytic.com\nipaglobal.com\nweare121.com\nzemek.com\nryancommodityinsights.com\nonyxsi.com\ncostmine.com\nnickhatchmining.com\naethoslabs.com\nmysteel.com\nbuzblox.com\nfutureproofconsulting.com.au\ncmgroup.net\noptelgroup.com\nberylls.com\nreputex.com\nnumber-three.net\nrobertdallison.com\nwsp.com\nafriforesight.com\npaydirt.com.au\nmetal.com\ninforma.com\nfelixstrategy.com\ncrisil.com\nantaike.com\nbatterymaterialsreview.com\nsrk.com\nglobaltrustgrp.com\nnapiermeridian.com\nprojectblue.com\nplutonic-rma.com\nrosaearth.io\ndrivesustainability.org\nminehub.com\nscsglobalservices.com\nLynxglobalintelligence.com\nsphera.com\nminespider.com\nc-resource.com\ntdi-sustainability.com\nkumi.consulting\nsc-insights.com\nkallanish.com\naboutenergy.co.uk\nenant.io\nopisnet.com\nacuitycommodities.com\nevinfocus.com\nsfa-oxford.com\ncrugroup.com\nwoodmac.com\nspglobal.com\nrolandberger.com\nrcsglobal.com\nnornik.ru\nlivista.energy\nihsmarkit.com\ncapitalightresearch.com\namegroup.com\ncapitalight.co\nsustainablelabs.io\ncommoditiesanalysis.co.uk\navicenne.com\nkearney.com\nnornickel.net\n5napier.com\nvoltility.net\ngf.com.cn\nhindenburgresearch.com\ndigbee.com\nadamasintel.com\nac-harvard.com\nsneresearch.com\ninventusbioenergy.com\nproactiveinvestors.com\nauroraer.com\nresourceworld.com\nbatteryline.com\norennia.com\nfastmarkets.com\nmsci.com\nbcg.com\nklinegroup.com\ndelta-ee.com\nskarnassociates.com\nricardo.com\ncleanhorizon.com\np3-group.com\naccenture.com\nporsche-consulting.com\numlaut.com\nadi-analytics.com\ncpmgroup.com\nilimarkets.com\nminviro.com\nmckinsey.com\ncicenergigune.com\ne4tech.com\nargusmedia.com\ndolbear.com\nerm.com\nlithium.org\nradiusq.com\ndigivla.com\njeri.co.jp\ntopology.com.tw\nsaurenergy.com\novaladvisory.com\ngsixenergy.com","\u003C!--#storyblok#{\"name\": \"settings\", \"space\": \"287943243085208\", \"uid\": \"8dcafbcc-28de-4388-a68e-6b41e24f31bb\", \"id\": \"120886048076734\"}-->",[],[],1783682654026]