The spot premium for copper rod in the United States has risen for the first time since January, driven by a higher copper cathode premium for 2020 annual contracts.
Fastmarkets assessed the copper rod premium, ddp Midwest US, at 16-18 cents per lb on Thursday December 5, up by 1 cent from 15-17 cents per lb previously and the first increase since January 3.The gain is due to the increased 2020 annual copper cathode premium, sources told Fastmarkets, rather than the impact of the ongoing labor strike at integrated copper producer Asarco.Chilean miner Codelco, the world's largest copper producer, in October increased its annual US copper cathode premium for 2020 supply to 3.1...