Copper cathode premiums fell even further for shipments into China, while US rates remained high in the latest assessments on Tuesday June 8.
A firmly closed arbitrage window sent Fastmarkets premiums down further in China. US premiums are stable at high levels, supported by high costs and good demand. China's low premium dents spot activity; SEA market flat
There was minimal spot interest in China's import market for copper cathodes where premiums are weighed down by a prolonged lack of arbitrage opportunities, sources said.
The loss for importing the red metal into China averaged $137.31 per tonne during June 2-8, compared with an average loss of $167.09 per tonne over May 26 and June 1, according to Fastmarkets' calculation.
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