Copper premiums slide in Asia
- Asian market participants expect weaker demand
- Business still hand-to-mouth across Taiwan, Vietnam
- European sellers still in control despite falling LME stocks.
Premiums for copper cathodes across Asia fell over the past week, with demand for the metal faltering in the key outlet of China.
Fastmarkets’ copper grade A cathode premium, cif Southeast Asia
, narrowed downward by $5 per tonne to $70-75 per tonne on August 11, a three month low.
Consumer demand across Thailand and Vietnam was sporadic, market sellers told Fastmarkets, with units being picked up on a hand-to-mouth basis.
“We’re expecting weaker demand in the coming months,” a copper buyer said.
Still, the trend of consumers selling stock or stalling on long-term contract tonnages was showing...