Shanghai premiums up as favorable arbitrage remains in place
- Shanghai premiums up due to a more favorable arbitrage and lower copper stockpiles
- Rotterdam premium narrows amid static copper market, other European regions flat
- US copper premium remains flat after Trump suspends Mexico tariffs talks
Copper cathode premiums in Shanghai continued to rise for a fourth straight week amid a more favorable import arbitrage on bringing the red metal into China since May.
Fastmarkets assessed the premium for grade-A copper cathode
at $50-69 per tonne cif Shanghai on Tuesday June 11, up from $47-65 per tonne a week earlier.
This compares with a multi-year low of $36-60 per tonne hit in early May before the import arbitrage ratio started to improve.
Meanwhile, the in-warehouse premium in Shanghai rose to $50-67 per tonne on Tuesday, up $2 at the top end from the $50-65 per tonne on...