RE:RE:Over ReactionYou forgot to mention: 4) Trumps EU Tariff threats and 5) Brexit that is going to happen in 5 days. More macro fears...
China will reduce grid investment, but they are expected to grow their overall ecomomy at over 6%. This will more than offset grid decrease. Also, they lifted their import ban on scrap copper because they need more copper. TC and RC's for smelters are at all time and smelters are refining less because of this and not meeting China's needs.
The only thing Corona virus will impact is the number of adult-sized diapers that end up in landfills. The infirmed elderly living in nursing homes are likely to be the ones that die, and they don't use alot of copper. On the contrary, if China is building a new 1000 bed hospital (the equivalent of a new Vancouver General Hospital) every week in order to support their ventilated patients, then they may indeed need alot more copper, not less.