After the official announcement that VAT cut from 16% to 13% will come into effective starting from April 1^st, 2019, the market price of electrolytic cathode copper drops slightly. But the price comes to stable quickly at the end of March.

The SMM price shows the average transaction price on March 28, 2019 is RMB 49,250-49,430 per ton. It is expected that this price will maintain without big fluctuation.

However, on the other hand, statistics shows that China has lowered the import of copper scrap by 66.7% to 60,000 ton in February.