US copper premiums hold at Oct 2016 high

Copper premiums in the United States held steady this week after previously rising for the first time since November due to freight costs, and market participants are only expecting those inputs to rise throughout the next few months and potentially push premiums higher.

US copper cathode premiums were at 5.5-6 cents per lb delivered to the US Midwest on Tuesday February 6, according to American Metal Market’s latest price assessment, unchanged from the previous week but still the highest point since October 2016.
"Freight cost/capacity are definitely a concern moving forward from both a premium and execution standpoint," one US-based supplier said.

The cost of moving material from one location to another represents around one-fifth of the total premium, and with more travelers...

Published

Dalton Barker

February 07, 2018

01:22 GMT

Chicago