The premium on copper cathodes imported into China shot up on Thursday August 19 to its highest level since May 2020, buoyed by the opening of an arbitrage window between London and Shanghai.
Fastmarkets assessed the benchmark copper grade A cathode premium, cif Shanghai, at $75-100 per tonne on Thursday, up by $10-20 per tonne from $65-80 per tonne on Wednesday, and the highest since late May last year.The copper import arbitrage, which had been deep in negative territory for most of this year so far, was at a profit of...