GLOBAL COPPER WRAP: Shanghai premiums firm, other global markets flat

Premiums for copper cathodes moved up in Shanghai with buying evident ahead of this week’s Lunar New Year holidays. Elsewhere, US and European spot premiums are unchanged, although demand is strong in North America.

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...

Published

Archie Hunter

Dalton Barker

Hassan Butt

February 06, 2019

09:13 GMT

London, Chicago