- Higher premiums seen in different markets in Europe due to factors including lower stocks, the impending peak demand season and maintenance outages at smelters
- US premiums rise to their highest level since August 2016 amid rising freight rates and costly fuel surcharges
- Shanghai premiums keep largely flat amid low liquidity due to widening import loss and LME Asia week event in Hong Kong last week
Copper premiums tick up across European markets
Premiums for Rotterdam
on a cif basis widened upward to $41-52 per tonne on
Tuesday May 22 with tonnages seen to be trading above $50 per tonne, compared with $41-50 per tonne a week ago.
“A major South American producer is said to be selling more cathodes to Shanghai citing freight parity changes, leading to less arrivals at Rotterdam recently,” a major copper buyer said.
“Even if we sell ER cathodes to Asia at...
