Hong Kong—Around 42% of China’s copper processing sector had resumed operating at 60%-90% of normal levels as of February 20 after extending Lunar New Year shutdowns due to the coronavirus outbreak, Tongling Nonferrous Metals said in a weekly report Tuesday. The copper giant estimated a further 27% of the sector had resumed operations at 30%-60% of normal levels. However, the overall operating rate was lower than anticipated by the market as labor constraints continued to pose a challenge, Tongling said in the report.
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