Shanghai premiums drop, bonded stocks rise
- A widening backwardation and negative import arbitrage put downward pressure on Shanghai premiums
- Shanghai bonded stocks rise due to a closed import arbitrage
- EQ cathodes trade below parity amid sluggish spot demand
- German premiums weighed down by inventory offloading activities, backwardation structure
- Premiums in the United States unchanged, spot market slow
Copper cathode premiums fell across Asia, with regional demand for spot units dimming at the same despite supply remaining resolutely strong.
Fastmarkets' assessment for the copper grade A cathode ER premium, cif Shanghai dropped to $40-45 per tonne on Tuesday September 22, $5 lower at...