The copper cathode premium's ascent in the United States paused over the past week, with the market struggling with a major arbitrage and nightmarish freight conditions.
American Metal Market's assessment of the US copper cathode premium was flat at 6.5-7 cents per lb delivered to the Midwest on Tuesday June 26, maintaining the highest level since mid-July 2014. Premiums have moved up by a full cent over the past month despite the market entering the traditional summer slow period, when ranges are usually fixed and participants exit the market until after Labor Day weekend.The cost of shipping material from one location to another remains the constant topic in the industry, with no signs of that easing. Copper consumers had resisted higher premiums during contract negotiation season because demand was mixed throughout the year,...