GLOBAL COPPER WRAP: Southeast Asia premiums remain market high point, EQ levels shift

Copper premiums have remained high in Asia but the physical markets in Europe and the United States were sluggish in light of futures prices breaking fresh highs late last week.

Southeast Asia premiums remain global high pointShanghai EQ moves back to premium from discountsUS market foresees more active 2020.
Shanghai copper premium at four-month high
Fastmarkets' copper grade A cathode premium, cif Shanghai, was assessed at $48-68 per tonne on Tuesday January 12, slightly up from $48-66 per tonne a week earlier. The benchmark copper premium was now at its highest level since late August 2020.
February cargoes of top-brand ER copper cathodes were reported being sold for prices in the high $60s per tonne, with the copper grade A cathode ER premium, cif Shanghai, being assessed at $63-68 per tonne, also on January 12.

As for bonded cargoes, Chinese brand ER cathodes were sold in the low $70s per tonne, but with a few offers at slightly higher levels. The copper grade A cathode ER premium, bonded in-whs Shanghai, was assessed at $68-72 per tonne on Tuesday,...

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