Bonded Shanghai copper premiums soar on arb opportunities
- Arbitrage opportunities prompt higher Shanghai premiums
- Rotterdam market holds on steady supplies, LME price rises
- US market remains stable
Fastmarkets' Shanghai copper premium hit a four-month high because of an improved arbitrage situation.
The benchmark copper Grade A cathode, cif Shanghai premium
at $48-66 per tonne on Tuesday January 5, its highest level since late August.
The arbitrage window opened for some market participants at the beginning of the week, lending support to spot trading interest.
Imported cargos of electro-refined (ER) cathodes were more sought after than solvent-extraction electrowinning (SX-EW) cathodes, with Fastmarkets' copper grade A...