MYMETAL: China copper price dips, but optimism remains

Source: Mysteel Mar 30, 2021 15:30

China’s price for 99.99% grade copper cathode assessed by Mymetal lost Yuan 559/tonne ($85.1/t) on week to settle at Yuan 66,243/t including the 13% VAT as of March 29. Yet despite the dip, market participants remain optimistic, citing the potential for demand to rise during the coming April-June quarter, and the fact that the low treatment charges (TCs) of concentrates should see the smelters vigorously defend their profit margins. Mymetal is Mysteel’s nonferrous metals market intelligence unit.

“Traditionally, second quarter is still a peak consuming season for copper products and the power utilities enterprise, State Grid Corporation, has been calling for tenders for suppliers of cables and components,” a Shanghai-based futures analyst said. “This means that demand for copper rod should be reflected in copper cathode

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