GLOBAL COPPER WRAP: Copper premiums in Europe, Shanghai take different paths; US stable

Copper premiums moved in different directions across Europe, while greater trading interest in bonded stocks versus cif cargoes weighed on premiums in Shanghai. Meanwhile, despite expectations of rising freight costs, copper premiums in the United States were stable this week due to limited spot availability.

European copper premiums head in different directions Shanghai cif copper premiums soften, bonded premiums widen US copper premiums stable despite upward pressure European copper premiums take different paths 
Delayed vessels in Italy, tightened supply in Germany and ample availability in Rotterdam sent copper premiums in different directions in Europe.

Copper premiums in Rotterdam softened to $43-50 per tonne cif on Tuesday April 17 amid ample cathode availability, down from $45-50 per tonne a week earlier.

Market activity was reported in the $40-per-tonne range, with a $5-10 difference between registered and non-registered cathode on the London Metal Exchange.

On-warrant LME stocks in Rotterdam rose by 5,975 tonnes during the week to 86,500 tonnes.

The ample supply in Rotterdam has stood in a contrast...


Gladdy Chu

Dalton Barker

Julian Luk

April 17, 2018

23:32 GMT

Shanghai, Chicago, London