GLOBAL COPPER WRAP: Shanghai premium jumps to 5-month high on demand hopes

Copper cathode premiums were up in China this past week but static elsewhere around the world, with physical market activity slow to return at the start of 2021.

  • Shanghai premiums hit 5-month highs
  • Southeast Asia levels stay high as LME stocks depleted
  • Business picking up in the United States

Shanghai premiums trade at five-month highs
Premiums for copper cathodes rose in Shanghai this week, after buyers there delved into the spot market for cargoes arriving after the Lunar New Year (February 12).
Fastmarkets assessed the copper grade A cathode ER premium, cif Shanghai at $68-73 per tonne on Tuesday January 19, up by $5 per tonne from $63-68 per tonne a week earlier.

Premiums have been given a...

Published

Archie Hunter

Rijuta Dey Bera

January 20, 2021

03:22 GMT

London, New York