Cif Shanghai copper premiums drop to 2017-low; cif, in-warehouse premium gap widest on record

Shanghai copper premiums have dropped to their lowest level in almost three years on slack spot demand for imported cathodes ahead of Lunar New Year.

Fastmarkets' copper grade A cathode premium cif Shanghai stood at $35-48 per tonne on Friday January 3, down slightly from $38-50 per tonne a day ago.
The benchmark premium, which is often viewed as an indicator of appetite for imported refined copper, is at its lowest point since March 2017. The premium has been steadily falling since reaching a 2019 high of $70-83 per tonne on October 10.

The copper grade A cathode SX-EW premium, cif Shanghai fell to $35-40 per tonne on the same day, with tonnages sold at as low as...

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