Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

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Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>China's overall copper ore/concentrate imports (which feed China's copper smelters) are showing no signs of letting up, with volumes up 10% YoY to 2.6 million tons. </li>
<li>US data for copper imports also show solid growth for FY25 (1.9 million short tons vs 1.3 million in FY24, up 52%) and for 3MFY26, up ~51% YoY. </li>
<li>Our short-term call on copper is that volatility will persist, given the current situation (we have been wrong lately, as it is very unpredictable).  Long-term, we are constructive. </li>
</ul>


China's overall copper ore/concentrate imports (which feed China's copper smelters) are showing no signs of letting up, with volumes up 10% YoY to 2.6 million tons. 
US data for copper imports also show solid growth for FY25 (1.9 million short tons vs 1.3 million in FY24, up 52%) and for 3MFY26, up ~51% YoY. 
Our short-term call on copper is that volatility will persist, given the current situation (we have been wrong lately, as it is very unpredictable).  Long-term, we are constructive. 


Copper: China Copper Concentrate Imports Show No Signs Of Letting Up