US copper contract negotiations stall due to Thanksgiving holiday

Copper premiums were little changed in the United States over the past week, with annual contract negotiations hitting a snag due to the Thanksgiving holiday break.

The US Midwest-delivered copper cathode premium was steady at 5.25-5.75 cents per lb on Tuesday November 28, according to American Metal Market's assessment. Premiums had moved last week for the first time since late May and have only increased three times throughout 2017.
Market participants noted that contract negotiations are slower than normal due to flat metal costs into ports but rising logistical and borrowing costs.

Chilean copper producer Codelco announced in early November that it was maintaining current premiums and offering US customers cathode at...

Published

Dalton Barker

November 29, 2017

01:59 GMT

Chicago