Elsewhere, premiums in Europe and the United States were unchanged over the past week amid a lack of significant spot activity.
Shanghai premiums continue recovery
- Shanghai premiums boosted by favorable arb, expectations of tightness
- European market flat with spot activity beginning to fade ahead of summer
- US premium supported by contangos amid sluggish spot trading
Copper cathode premiums in Shanghai edged higher on Tuesday, thanks mainly to a more favorable import arbitrage in China which has persisted since May.
Declining domestic stocks and a growing expectation of tightness for certain brands of copper cathode due to strike action in Chile further supported the rise in Shanghai premiums this week.
Fastmarkets assessed the premium for grade-A copper cathode
at $54-71 per tonne cif Shanghai on Tuesday, up by $2-4 per tonne from $50-69 per tonne a week earlier.
Meanwhile, the in-warehouse premium in Shanghai rose to $52-67 per tonne on Tuesday,...