Elsewhere, soft demand and ample availability in Germany caused premiums there to weaken, while quiet conditions kept the US copper market flat.
Premiums in Shanghai move up on improved arbitrage
Demand woes soften German delivered premium in Europe
US Midwest-delivered premium steady amid slow Q2
Shanghai premiums edge up
Copper premiums in Shanghai edged up this past week amid a more favorable arbitrage on bringing the metal into China and limited availability, but greater demand, for SX-EW cathode.
Fastmarkets assessed the premium for grade-A copper cathode at $45-63 per tonne cif Shanghai on Tuesday, up by $3-7 per tonne from $38-60 per tonne a week earlier.
Similarly, the in-warehouse premium in Shanghai rose to $45-63 on Tuesday, also up by up by $3-7 per tonne from $38-60 per tonne on May 21.
The number of deals and inquiries heard in the Shanghai market have increased since the start of May due to the narrower...