Asia premiums rise amid annual negotiations
- Producers offer rollovers into Europe for 2021 supply
- Extra premiums on top brands for Asia buyers
- US consumers dip into market for spot
Copper cathode premiums increased slightly in Shanghai and Southeast Asia over the past week, with renewed spot buying raising rates for specific brands and qualities.
The Fastmarkets copper grade A cathode ER premium, cif Shanghai
assessment was $45-53 per tonne on Tuesday October 20, up from $45-50 per tonne a week earlier.
Market buyers are still looking for top brand cathode, with ENM material offered at $55 per tonne for November arrival and bids closer to $52 per tonne. Deals were reported to Fastmarkets at $53 as the top of the market.
SX-EW and regular ER brands are less popular and premiums have not changed significantly since before the start of the Chinese Golden Week holidays in early October.