GLOBAL COPPER WRAP: Europe, US premiums on upward momentum, Shanghai market flat

摘要

Premiums for Rotterdam on a cif basis widened upward to $41-52 per tonne on Tuesday May 22 with tonnages seen to be trading above $50 per tonne, compared with $41-50 per tonne a week ago."A major South American producer is said to be selling more cathodes to Shanghai citing freight parity changes, leading to less arrivals at Rotterdam recently," a major copper buyer said."Even if we sell ER cathodes to Asia at $70-75 per tonne, it is still more profitable than accepting some offers in Europe," a producer source said.