US markets upbeat on demand prospects.
Shanghai copper premiums firm on pre-Lunar New Year stockpiling
German delivered premiums seen under downward pressure
US participants optimistic to begin February
Copper premiums in the United States remain in a fixed range due to strong demand and dwindling stocks, despite the market being in the midst of a traditionally slow period.
Fastmarkets AMM assessed the US copper cathode premium at 7-7.5 cents per lb delivered to the Midwest on Tuesday February 5. The premium has maintained that level - a four-year-high - since mid-July 2018, but is up by 26.1% from 5.5-6 cents per lb one year...