Copper premiums across Asia, Europe and the United States were unchanged in the week to Tuesday October 13, with market participants turning their attentions to the benchmark negotiations for 2021 supply at next week's annual LME gathering.
Rotterdam premiums hold ahead of annual contract talks coming next week. Asia spot market remains weak amid close arbitrage window. Absence of spot business in US copper market keeps premium flat. All European market eyes on annual benchmark premiumsLME copper's cash/three-month spread was recently in a $5.25 per tonne contango, flipping from a $1.50 per tonne backwardation last week. The metal's outright price on the LME closed at $6,692 per tonne on Tuesday....