American Metal Market’s assessment of the Midwest copper cathode premium rose to 6-6.5 cents per lb
on Tuesday May 22 from 5.5 to 6 cents previously. The premium is at its highest level since August 2016., according to American Metal Market data.
Multiple market participants said freight costs are rising because the transportation market is entering peak seasonal demand.
"There is definitely a strong upward pressure on premiums at the moment," a United States-based trader said. "Freight continues to...