Elsewhere, the German market suffered from concerns over demand, which caused spot premiums in the country to soften, while US market participants continued to express optimism over business for the coming year.
Shanghai premiums halt decline on improved arbitrage, narrowing backwardation
Supply remains tight in Southeast Asia, supporting regional premiums
German premium softens on demand concerns
US premium flat, but optimistic tone persists in market
Shanghai premiums stop falling after hitting lowest since Oct 2017
The grade A copper premium cif Shanghai halted its decline in the week ended December 11 due to an uptick in market sentiment stemming from an improved import arbitrage between London and Shanghai and a narrower backwardation in the LME’s cash/three-month spread.
Fastmarkets assessed the grade A copper cathode premium on a cif Shanghai basis at $55-72 per tonne on December 11, up $1 per tonne on the high end compared with a day earlier, but down from...