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MYMETAL: China copper prices slip after stocks swell

ABSTRACT

Chinese spot prices of copper declined further during the last week of 2020 amid softening demand and mounting stocks. Nevertheless, the outlook for prices in this year’s first half is positive, sources said.
The price of 99.99% copper cathode decreased further by Yuan 468/tonne ($72.4/t) on week to Yuan 58,036/t including the 13% VAT as of January 5, according to Mymetal’s assessment. “Overall, domestic (copper) consumption has softened due to seasonal factors,” a Shanghai-based futures analyst said. “Cable and wire manufacturers, major consumers of

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