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Technicians work on export orders on an intelligent production line in a company in Suqian, East China's Jiangsu Province. Photo: VCG

Amid increasing global economic uncertainty caused by US tariffs, China's manufacturing sector has again demonstrated its long-term stability and resilience. This was evidenced by Chinese buyers' copper purchases despite recent market volatility, reinforcing the sector's role as a stabilizing force in global trade and industrial supply chains.

Copper prices plunged as much as 7.7 percent within 15 minutes of the opening on the London Metal Exchange (LME) on Monday, and the initial drop prompted Chinese manufacturers and importers to snap up copper, traders said, according to a Bloomberg report on Tuesday. 

Copper is a crucial raw material widely used in industrial production, and is traditionally considered a barometer of the global economy.

Over the past few days, global copper prices have experienced one of the most significant sell-offs in years, with LME copper prices dropping 11.19 percent last week. On Friday, the price fell by 6.9 percent, the largest single-day drop since March 2020. 

This sharp decrease is largely attributed to the US' announcement of "reciprocal" tariff policy on April 2, which has severely weakened the demand outlook for copper.

Under such a volatile market environment, the significant increase in copper purchases by Chinese buyers reflects the stability of China's manufacturing industry. Chinese manufacturers, through reasonable procurement strategies, ensure that their production in the coming period will not be disrupted by copper price fluctuations or supply shortages, thus maintaining the continuity and stability of production.

Moreover, China's copper buying is also closely aligned with China's policy orientation of stabilizing the economy and the manufacturing sector. This year, the country has explicitly emphasized the focus on stabilizing the economy and the manufacturing sector, and expanding consumption.

As the world's largest copper consumer, accounting for more than 50 percent of global consumption, China's appetite for the metal is deeply embedded in its infrastructure projects, power grid upgrades and booming electric vehicle sector. For instance, major construction projects have been announced recently across the country, covering transportation, energy, water conservancy, industrial transformation, livelihoods and new infrastructure, all of which will directly boost demand for copper.

Furthermore, as Chinese automakers - particularly those in the new-energy vehicle sector - continue to grow and expand internationally, the sector's demand for copper will also remain robust. These market developments clearly indicate that Chinese companies, guided by a series of supportive policies, remain confident in the outlook for production and market prospects.

The US tariff policy has seriously disrupted the normal operation of the global industrial chain, triggering drastic fluctuations in the international market. The volatility in the copper market is merely a microcosm of this global trade upheaval. 

In such a complex, volatile and uncertain market environment, Chinese manufacturers are proactively responding to uncertainties in the industrial chain. This coping ability stems from the rich experience accumulated by China's manufacturing industry over the years in continuous battles with market risks. 

Chinese manufacturers can quickly find alternative solutions when raw material supplies are restricted, rapidly adjust product structures when market demand changes, and increase research and development investment to achieve breakthroughs in the face of technological bottlenecks. This comprehensive adaptability has enabled and will continue to enable China's manufacturing sector to maintain a relatively stable production pace amid global industrial chain fluctuations for a long time.

As a vital part of the global industrial chain, the stable development of China's manufacturing sector is of great significance for the stable operation of the world economy. In the past when the international market was mired in difficulties due to various factors, China, with its huge production scale and stable supply capacity, greatly helped ensure the continuous supply of various products in the global industrial chain. 

In the context of increasing global economic uncertainty, Chinese manufacturers' ability to respond to various situations will not only ensure its own stable development but also make significant contributions to the stability of the global industrial chain.