Copper premiums firm in tight, strike-torn mart
Oct 18, 2005 | 09:18 AM
| Sean Barry
U.S. copper premiums are firm as stocks remain tight in the wake of a decision by Falconbridge Ltd. to declare force majeure on deliveries from its idle Kidd Creek complex in Timmins, Ontario, and the continuation of a strike at troubled producer Asarco Inc.
Premiums range from 7.25 to 8 cents a pound delivered to U.S. destinations, but traders said that the higher end of the range applied only to small shipments.
The tightness of physical stocks has been underlined by reports that some wire and rod producers are struggling to meet orders because of a shortage of cathode, trade sources said.....
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