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Copper flows out of China as Shanghai premiums stay low
April 14, 2014 - 10:34 GMT
Copper cif premium
Shanghai copper premiums stabilised at $80-85 per tonne last week after a steep fall, which has spurred traders to ship metal overseas.
"We have shipped copper from China to South Korea
frequently. South Korea cif premiums are $90-100 per tonne,
while you could get some SX-EW or relatively low-grade copper
even below $70 per tonne in China. Differences in premiums give
us the incentive to buy domestically and ship to Korea," a
source at one Korea-based commodity trading firm told Metal
Bulletin. "Moreover, you...
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