Codelco still silent on 2011 cathode premium for US

Nov 23, 2010 | 11:27 AM | Meredith Mazzilli

Corporacion Nacional de Cobre de Chile (Codelco) has yet to set a level for its U.S. copper cathode premium for 2011, industry participants said, although news is thought to be imminent.

Unofficial word of the premium had been expected as the week got under way (AMM, Nov 22), although traders now say it should be in the cards this week.

Codelco, the world's largest copper producer, set the European 2011 benchmark copper premium at $98 per tonne (4.4 cents per pound), some 23 percent higher than the 2010 price. Meanwhile the premium for Chinese buyers has been reported at between $110 per tonne (5 cents per pound) and $115 per tonne (5.2 cents per pound).....

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