GLOBAL COPPER WRAP: Shanghai premiums at five-month high, US stable

Copper cathode premiums are rising in China, with positive arbitrage fueling imports after months of depressed demand. Premiums in the United States remain strong with the market eyeing the progress of the country's infrastructure bill through Congress.

  • Arbitrage driving premiums in Shanghai
  • Southeast Asia market weak on pandemic shutdowns
  • US premiums remain elevated
Shanghai premiums continue to rise
China’s import premium for copper cathode rose to its highest level in more than five months during the week to Tuesday August 17, supported by low spot availability and improving arbitrage terms.
The copper import arbitrage averaged a loss of $31.30 per tonne during August 11-17, compared with an average loss of $58.23 per tonne over August 4-10, according to Fastmarkets’ calculation.

On Tuesday August 17, Fastmarkets'...


Archie Hunter

Sally Zhang

Yasemin Esmen

August 18, 2021

11:03 GMT

Shanghai, New York