Spot copper cathode premiums increased in the United States and East Asia in the week to Tuesday October 20, with additional rates being paid for prompt material and specific brands, while annual contract negotiations are under way, with producers rolling over offers into Europe for next year.
Producers offer rollovers into Europe for 2021 supply Extra premiums on top brands for Asia buyers US consumers dip into market for spot
Asia premiums rise amid annual negotiations
Copper cathode premiums increased slightly in Shanghai and Southeast Asia over the past week, with renewed spot buying raising rates for specific brands and qualities.
The Fastmarkets
copper grade A cathode ER premium, cif Shanghai assessment was $45-53 per tonne on Tuesday October 20, up from $45-50 per tonne a week earlier.
Market buyers are still looking for top brand cathode, with ENM material offered at $55 per tonne for November arrival and bids closer to $52 per tonne. Deals were reported to Fastmarkets at $53 as the top of the market.
SX-EW and regular ER brands are less popular and premiums have not changed significantly since before the start of the Chinese Golden Week holidays in early October.
Isolated...