GLOBAL COPPER WRAP: Shanghai cif premium makes gains, Rotterdam sees deliveries

Copper premiums were largely flat ahead of the lunar new year holiday in the main consumer territory of China. But premiums did make some small gains in Shanghai and a barrage of stocks begun to hit London Metal Exchange warehouses on Tuesday January 21.

  • US spot copper premiums stable after reaching multi-year highs last week
  • Fresh inflows into Rotterdam fuel supply-demand woes in Europe
  • Shanghai cif premiums rise by $2 per tonne.

US copper premium stable
Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US, at 7.5-8.5 cents per lb on January 21, flat after hitting multi-year highs last week.
The spot business in copper cathode remained slow, according to market participants, but the premium still held firm amid higher premiums charged by producers and an increase in rail freight costs.
Shanghai cif premium up by $2 per tonne

The Shanghai cif copper premium edged up further in the week ended Tuesday with the market recovering from...


Hassan Butt

Rijuta Dey Bera

Sally Zhang

January 22, 2020

19:02 GMT

London, Shanghai, New York