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China’s Metal Market: Copper Prices Slump Amid Low Trading

China’s copper prices slump on scant trading

China’s copper prices in both the spot and futures markets witnessed tiny rises during February 7 and February 13 after declining significantly following the Chinese New Year holiday (January 24-February 2), according to the latest report from Mymetal, Mysteel’s nonferrous market data collection arm. Nevertheless, prices remain at low levels as trading activity languishes amid the outbreak of the novel pandemic. 

China’s spot copper price eases with futures

China’s spot copper prices slipped during February 14 and February 20, in line with the decline in copper futures on the Shanghai Futures Exchange (SHFE), according to Mysteel’s latest weekly report. As of February 18, the spot price of 99.99% grade copper cathode under Mysteel’s tracking had lost Yuan 979/tonne ($154.8/t) on week to Yuan 71,500/t including the 13% VAT.

China aluminum prices hovering high

Domestic aluminum prices across China hovered high over the past week amid the slow recovery in supply and the gradual improvement in demand among end-users, according to market sources on February 23.

Source from mysteel.net

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