Chinese traders accept Codelco premiums

Dec 01, 2006 | 04:42 PM | Zhu Hui

Several Chinese trading companies have agreed to 2007 copper premiums of $128 to $130 a tonne with Corporacion Nacional del Cobre de Chile (Codelco), executives said, with contracts to be inked in the coming days.

However, some Chinese fabricators said they will not buy from Codelco as the settlement far exceeds their bottom line of $80 to $90 a tonne, executives at two major fabricators said.....

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