At the same time, a closed arbitrage window and limited buying appetite in China kept Shanghai cif and in-warehouse copper premiums steady from a week ago.
- Rotterdam copper premiums narrows downward in first move in nine months.
- Southeast Asia the only market to see copper premiums rise this week.
Logistical constraints, high stocks send Rotterdam copper premium to lowest since Oct 2017
Market participants dealing in copper cathodes across Europe have been reporting a marked decline in spot market activity in recent weeks, with the outbreak of novel coronavirus (2019-nCoV) across the region hampering the supply chain.
“It’s super quiet in Europe right now,” a Europe-based copper trader told Fastmarkets. “I’m not keen to do any [copper cathode] business right now. The logistics are just too tricky.”
Fastmarkets assessed the copper grade A cathode premium, cif Rotterdam at $40-45 per tonne on Tuesday March 17, narrowing downward by...