Spot market conditions relatively unchanged

摘要

Despite more positive market sentiment and higher prices, our discussions with market participants indicate that conditions in the spot market have not improved at all since last month. Higher copper prices have also attracted more scrap into the market so this is also acting as a dampener on cathode demand. While the lack of spot business means there are few premium quotations, we assess the US premium for cathode delivered in the Midwest is in the range of 6.0 cents/lb and 7.0 cents/lb, down slightly from last month's quotation.