Shanghai premium edges down as domestic discounts appear
- Premiums in Southeast Asia hit five-month highs.
- Shanghai levels drop as smelters ramp up in China.
- US market points to price for firming premiums.
Premiums for copper cathodes in Shanghai dropped week on week with the end-of-year demand surge beginning to ebb and Chinese smelters ramping up production.
Fastmarkets assessed the copper grade A cathode ER premium, cif Shanghai
at $52-57 per tonne on Tuesday, down from $57-62 the previous Tuesday.
Having traded at premiums of over 100 yuan...