Yet ample availability and lackluster demand in both the US and European grade A cathode markets saw premium levels hold while the metal's three-month LME price continues to trade firmly above $6,500 per tonne.
Shanghai premiums bump on contango return, Southeast Asia sinks further
- Spread flip sees buyers hold material in Asia
- US consumer demand plateaus
- Rotterdam inflows cool off buying momentum in Europe
Copper cathode premiums in Shanghai rose for the first time in a month as LME futures spreads flipped to contangos, following large-scale deliveries into LME warehouses.
The Fastmarkets Copper grade A cathode ER premium, cif Shanghai, assessment was $45-50 per tonne on Tuesday September 29, up from $40-50 per tonne the previous week.
Deliveries totalling 64,650 tonnes have been reported by the LME so far this week, with 30,525 tonnes on Monday, and 34,125 tonnes on Tuesday. Most of this has been delivered...