GLOBAL COPPER WRAP: Italian copper premium rises; Southeast Asian, Taiwanese terms remain strong

摘要

Copper cathode premiums in China remained depressed in the week to Tuesday November 3, with all eyes on annual contract talks and Chinese importers asking for floating contract terms for 2021. - Chinese importers have rebuffed Codelco’s $88 per tonne premium offer for 2021 - Codelco has offered Chinese clients contracts with 50% of a fixed premium at $88 per tonne, and 50% a floating premium basis spot monthly average prices - In response, buyers have bid at 75% floating premium, with 25% fixed at $88 per tonne, or 100% fixed at a level below $80 per tonne - US cathode premium remained flat on thin spot trades