On-the-water copper cargoes in demand as struggle for vessel space intensifies

On-the-water African copper cargoes are now preferred by Chinese consumers to forward cargoes because some shippers have lost hope of finding logistics space in the next few months, Fastmarkets heard on Wednesday September 1.

"You could 'win the game' if you could take these copper [cargoes] on-board. Then you could secure a profit," a trader source said.
African countries such asZambia and Democratic Republic of Congo (DRC) are major suppliers of blister copper and equivalent grade (EQ) copper cathodes to China, with such material traveling a route that could take more than one month depending on the number of stops.

Blister copper, an intermediate product used for cathode production, would be...

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