The spot premium for copper rod has moved for the first time in eight months, boosted by improving demand for the commodity in the United States.
Although copper rod is mostly traded on long-term contracts, spot demand for rods has been growing recently.Fastmarkets assessed the copper rod premium, ddp Midwest US at 17-18 cents per lb on Thursday February 4, rising from the previous range of 16-17 cents per lb, where the premium had held since June last year."I think there is more spot rod demand than historically," a rod producer said. "Maybe with 2020 events, people looked at flexibility as more important than contracts?"A...