GLOBAL COPPER WRAP: Strong US demand boosts premium, China premiums retreat further

The Midwest US copper premium rose to its highest level in eight years on Tuesday June 22, while Shanghai premiums remained at decade lows following the news that China plans to sell its copper reserves.

US Midwest copper premium ticks up  China announces details of plan to release 20,000 tonnes of copper into the spot market  Spot Shanghai copper premiums stay depressed US copper demand strong; Comex stock tumbles to more than one-year low
Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8.00-8.50 cents per lb on Tuesday, up slightly from 7.75-8.50 cents per lb a week ago. The premium is now at its highest level since May 2013.

Market pricing contributors unanimously said premiums under 8 cents...

Published

Julian Luk

Sally Zhang

June 23, 2021

11:35 GMT

Shanghai, London