GLOBAL COPPER WRAP: Shanghai premiums at five-month high, US stable

Copper cathode premiums are rising in China, with positive arbitrage fueling imports after months of depressed demand. Premiums in the United States remain strong with the market eyeing the progress of the country's infrastructure bill through Congress.

Arbitrage driving premiums in ShanghaiSoutheast Asia market weak on pandemic shutdownsUS premiums remain elevatedShanghai premiums continue to rise
China's import premium for copper cathode rose to its highest level in more than five months during the week to Tuesday August 17, supported by low spot availability and improving arbitrage terms.
The copper import arbitrage averaged a loss of $31.30 per tonne during August 11-17, compared with an average loss of $58.23 per tonne over August 4-10, according to Fastmarkets' calculation.

On Tuesday August 17, Fastmarkets'...

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