Aurubis sets 2016 European cathode premium at $92 [UPDATE]

Aurubis has set its 2016 contractual cathode premium at $92 per tonne, market sources told Metal Bulletin.

The premium is down from the benchmark of $110 agreed for 2015, and is at the lowest level since 2013, when the Hamburg-based copper producer offered its customers a premium of $86 per tonne.
Aurubis, the largest cathode producer in Europe and one of the biggest globally, has taken a leading role in setting the benchmark for Europe since 2012, in a challenge to rival producer Codelco, which is yet to offer its contractual premium for 2016.
The Chilean state-owned producer traditionally makes its offer to European customers at the start of London Metal Exchange Week, which starts on Sunday October 11.

Consumers have been pushing for a benchmark premium of less than $100 per tonne, reflecting the fact that spot cathode premiums have been weak in most regions of...


Mark Burton

October 02, 2015

11:15 GMT