Elsewhere, there was limited spot trading across global markets despite the London Metal Exchange’s cash/three-month spread swinging to a contango.
Shanghai cif premium drops to its lowest since late January
LME three-month spreads swing to contango
Premiums unchanged in Southeast Asia, Europe on thin spot trading
Shanghai cif premium refreshes 2018 low
In China, copper premiums remained under pressure this past week due to a closed arbitrage window and sluggish demand in the run-up to the end of the year.
Fastmarkets assessed the Shanghai cif copper premium at $55-70 per tonne on December 18, matching the premium’s lowest level for this year reached on January 22. The premium had been...