China’s copper scrap imports fell to the lowest in 10 years, tightening supply for smelters and signaling refined imports of the metal will continue to rise.

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Bloomberg reported that total inbound shipments dropped 11% to 3.9 million metric tons last year, the lowest volume since 2004, according to General Administration of Customs data released Friday. December imports rose for first time in 3 months to 366,534 tons.

China’s purchases of refined copper from overseas climbed last year amid dwindling supplies of scrap, the feedstock for about one-third of China’s copper production Ian Roper, a commodity strategist at CLSA, told Bloomberg.

Closing at CNY 33,600 ($5,383) per metric ton on Wednesday, January 28, Chinese bright copper scrap saw the biggest change at a 4.8%. The price of Chinese copper wire reached a 30-day low after decreasing 1.5% to CNY 40,080 ($6,422) per metric ton. After falling 1.3% to CNY 41,000 ($6,569) per metric ton, the price of Chinese copper bar reached a 30-day low. Chinese primary cash copper saw its price drop 1.3% to a 30-day low of CNY 41,200 ($6,601) per metric ton on Wednesday.

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The Japanese copper cash price gained 2.1% to finish at JPY 694,000 ($5,892) per metric ton. The price of US copper producer grade 122 fell to a 30-day low at $3.22 per pound after shifting 1.8%. US copper producer grade 110 saw its price drop 1.8% to a 30-day low of $3.22 per pound on Wednesday. After falling 1.7% to $3.41 per pound, the price of US copper producer grade 102 reached a 30-day low.

After falling for two days, the 3-month price of copper rose 1.3% on the LME to $5,521 per metric ton. The primary copper cash price is back up, rising by 1.2% on the LME yesterday to close at $5,555 per metric ton.