Soaring copper prices subdue US market
Dec 08, 2010 | 12:14 PM
Soaring copper prices and negotiations for 2011 contracts are keeping the U.S. spot market quiet, with many traders focusing on finalizing supply deals for next year.
Corporacion Nacional de Cobre de Chile (Codelco) is understood to have allocated its 2011 contract volume at a variety of premiums centered around a rise of 1 cent per pound, according to traders.
Some traders have been waiting for official word on the Codelco premium, which traditionally has been considered a benchmark, before finalizing contracts. But others say its influence on the annual mating season has diminished.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.