Copper spot business may rise in 2013
Jan 17, 2013 | 03:52 PM
| Suzy Waite
Tags
Copper,
copper premiums,
cathode,
copper contracts,
Suzy Waite
NEW YORK — Copper spot activity may pick up this year after consumers booked less material on contract for 2013, traders and consumers told AMM.
Consumers were unwilling to lock up 2013 material late last year as the demand picture remained hazy (amm.com, Nov. 30), and sources said that their continued reluctance could lead to more spot activity this year.
One trader estimated that consumers booked only 60 to 70 percent of their needs on contract for 2013 vs. 70 to 80 percent in 2012. "Last year, (consumers) were left with a lot more inventory than they needed, they were consistently financing and rolling over and asking for cancellations. This year, they’re being more cautious," he told AMM. "I know a few consumers are (still) working their way through last....
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