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In China, the premium for electro-refined (ER) copper cathode in Shanghai on a bonded in-warehouse basis widened upward to $78-87 per tonne on Tuesday May 15, compared with $78-85 per tonne a week earlier. Top brands for ER warrants have traded slightly higher since later last week due to the limited supply in the spot market.
Meanwhile, the premium for solvent extraction-electrowinning (SX-EW) cathode warrants was unchanged week on week at $70-75 per tonne on Tuesday amid a lack of buying interest.
For material sold on a cif basis in Shanghai, after May-delivery cargoes were mostly sold out due to buyers’ recent appetite for seaborne cathode, traders have become more conservative in their selling, causing...