Elsewhere, the US Midwest-delivered copper cathode premium moved up for the first time since March 26 on tight supply and active spot buying, while the European market was stifled by a lack of activity.
Shanghai premiums narrowed upward on smaller import loss
Less financing demand continues to dampen Shanghai market
Southeast Asian premium widens downward amid soft demand
Lack of buying appetite caps European premiums
Increased spot trade boosts US copper premium
Narrower import loss stimulates buying in Shanghai
Copper premiums in Shanghai narrowed upward this past week after smaller losses on bringing the red metal into China led to an uptick in spot buying activity.
Fastmarkets assessed the premium for grade A copper cathode at $40-60 per tonne cif Shanghai on May 14, narrowing upward by $4 per tonne from $36-60 per tonne on May 7.
The premium for in-warehouse grade A copper cathode in Shanghai similarly...