NEWSBREAK: Codelco increases US copper cathode premium to highest since 2016

Chilean miner Codelco has increased its United States' annual copper cathode premium to 3.1 cents per lb for 2020 supply, making it the benchmark's highest level since 2016, sources close to the matter confirmed to Fastmarkets.

The uptick increases the baseline premium offered to major consumers from 2.5 cents per lb basis cif Gulf Ports, a level that has been maintained since 2017. 

Higher shipping rates from Chile to the US are said to be behind the move, which comes concurrent with spot copper premiums...

Published

Hassan Butt

October 01, 2019

17:19 GMT

London