US premiums at five-year high
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US premium hits five-year high
The US copper cathode premium has logged its first move since July 2018 and widened upward amid expectations of high demand and short supply during the second quarter of 2019.
Fastmarkets AMM assessed the US copper cathode premium at 7-7.75 cents per lb delivered to the Midwest on Tuesday March 26, up by 0.25 cents on the high end of the range from 7-7.50 cents per lb previously.
While the first quarter of this year was disappointing for many industry participants, spot demand typically increases in the second quarter, with construction activity picking up during the northern hemisphere's spring months.
"The copper market does seem a bit sluggish. [We] haven’t had as many inquiries for spot metal as we were seeing earlier," a US-based physical...