GLOBAL COPPER WRAP: Premiums unchanged in run-up to holiday season

Global copper premiums were largely unchanged with spot market action minimal as market participants finalize 2018 annual contracts before the holiday season arrives.

US copper premiums were little changed week on week with market participants noting that contract negotiations were slower than normal due to flat metal costs into ports, but rising logistical and borrowing costs. Those costs are expected to rise throughout 2018 with higher fuel prices, increased regulation and the US Federal Reserve rate normalization all contributing to higher premiums. Roughly 80% of copper demand is expected to be contracted on annual basis...

Published

Archie Hunter

Dalton Barker

December 06, 2017

03:45 GMT

London, Chicago