LME WEEK 2021: Increased copper premiums part of a 'two step' process, Aurubis CEO says

Aurubis’ increased annual premium for 2022 was partly a consequence of having kept the copper benchmark stable in 2021, chief executive officer Roland Harings told Fastmarkets during LME Week on Monday October 11.

He also noted that the high energy prices that Europe was experiencing were a “big concern for the economy.”

Europe’s biggest copper producer increased its premium offer to consumers for 2022 to $123 per tonne, a rise of $27 per tonne from the figure for this year.

“We kept the 2020/21 premium stable from 2019/20, in the midst of the Covid-19 pandemic,” Harings said. “Looking back, with today’s knowledge, an increase in the premium for this calendar year would have been justified. But it didn’t feel right at the time, with the uncertainty. No one knew what was going to happen.

“You should look at the 2022 ACP...

Published

Ana de Liz

October 11, 2021

17:20 GMT

London