Copper flows out of China as Shanghai premiums stay low

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...


Metal NM

April 14, 2014

10:34 GMT