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MYMETAL: China’s copper prices slump on scant trading

ABSTRACT

China’s copper prices in both the spot and futures markets witnessed tiny rises this week 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 Novel Coronavirus Pneumonia. 
The national average price for 99.99% copper cathode declined Yuan 596/tonne ($85.6/t) from February 3 to reach Yuan 45,403/t including the 13% VAT as of February 11, which was also Yuan 2,621/t lower than that recorded on January 23, the last working day before the CNY holiday, Mymetal’s data showed. Most

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