MYMETAL: China’s copper prices up on lower stocks
Jun 30, 2020 09:30
See Full-size Table Here
China’s domestic copper prices in the spot market rose over June 22-24, mainly thanks to the firm support prices received from declining refined copper stocks, as well as from the tight supplies of copper concentrates, according to the weekly report from Mymetal, Mysteel’s collection arm for nonferrous metals data.
China’s national price of 99.99% copper cathode rose further by Yuan 699/tonne ($98.8/t) from June 19 to reach Yuan 48,181/t including the 13% VAT as of June 24, Mymetal’s data showed.
The decline in copper stocks has propped up copper prices, with the inventories of refined copper in Shanghai Futures Exchange-warehouses