Cif Shanghai copper premium far from touching floor, market says

Copper premiums basis cif Shanghai could fall further even after a recent collapse, Shanghai market participants told Fastmarkets.

Copper cathode premiums are being pressured lower due to a steep backwardation in the London Metal Exchange cash/three-month forward spread of more than $40 per tonne as well as sluggish end-user demand in China.

Fastmarkets assessed the grade A ER copper cathode premium cif Shanghai at $53-63 per tonne on Friday March 1, down 3.3% from $55-65 per tonne the day before and compared with $65-75 at the start of the year.


Ellie Wang

March 01, 2019

12:44 GMT