GLOBAL COPPER WRAP: US spot premium rises on base price rally

Copper premiums rose in the United States and Southeast Asia in the week to Tuesday December 15, but dropped in China, with freight, exchange price and supply bottlenecks moving regional markets.

  • 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.
Shanghai premium edges down as domestic discounts appear
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...

Published

Archie Hunter

Rijuta Dey Bera

December 16, 2020

13:16 GMT

New York, London