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MYMETAL: China’s copper price slips, sales move up

ABSTRACT

China’s spot price of 99.99% grade copper cathode under Mymetal’s assessment dropped Yuan 1,885/tonne ($295/t) on week to Yuan 71,822/t including the 13% VAT as of June 9, though spot demand picked up over June 2-9 on the softening in price, according to Mymetal, Mysteel’s nonferrous market intelligence arm.
The base metal’s market fundamentals remained sound both in and out of China, which, to some extent, eased the concern on global economy and dampened the enthusiasm in speculative trading in copper, according to a Shanghai-based analyst. The three-month buyer price of copper on the London Metal Exchange, thus, also fell

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