GLOBAL COPPER WRAP: Shanghai premiums rise, US remains strong

Shanghai copper premiums rose in the week to Tuesday September 14 with the market becoming quieter ahead of a national holiday in China, while in the United States copper cathodes continued to trade at multi-year high prices.

  • Chinese electro-refined (ER) cathode import premiums hit peak of $85-95 per tonne before declining
  • US market continues to be strong
Shanghai premiums rise ahead of holiday
China’s import premium for copper cathodes was up week on week after a brief rally in the week to September 14, but spot activity slowed ahead of next week’s Mid-Autumn festival in the country.

Arbitrage terms improved late last week, which helped to drive paid premiums as high as $85-95 per tonne for ER cathodes on a cif basis....

Published

Archie Hunter

Sally Zhang

Yasemin Esmen

September 15, 2021

13:05 GMT

Shanghai, New York, London