Spot copper markets in seasonal lull despite arbitrage gains

Copper spot markets worldwide have been quiet over the past week, with market participants focusing on finalizing long-term contracts by the year's end.

  • Copper arbitrage window remains opened for Shanghai yet trading interest is not particularly high
  • There is no European copper pricing this week
China copper premium up slightly; SEA market static
The premium for copper cathodes being imported to China edged up slightly on a weekly basis on Tuesday December 7, but overall spot business was thin.
Fastmarkets assessed the benchmark copper grade A cathode premium, cif Shanghai at $78-96 per tonne on Tuesday, down by $3-4 per tonne from $75-92 per tonne a week earlier.

The slight increase was supported by improved import conditions late last week, but that did not last long amid volatility of backwardations in most London Metal Exchange copper...

Published

Julian Luk

Sally Zhang

Yasemin Esmen

December 08, 2021

13:25 GMT

Shanghai, London, New York