US copper premium moves down
- US cathode premium hits 15-month low on dampened sentiment.
- Rotterdam copper premium unchanged due to thin spot business opportunities.
The US copper cathode premium fell to its lowest level since July 2018 due to weakened demand in a sluggish spot market and buyer concerns surrounding the protracted US-China trade war.
Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US
at 6.75-7.50 cents per lb on Tuesday, the premium’s first move since August 13.
Sources across the supply chain reported slackening demand, related to the overall contraction in the auto market and the unsettled economic environment due...