Copper cathode premiums decrease

Feb 12, 2013 | 04:17 PM | Suzy Waite

Tags  copper, copper cathode, copper premiums, copper prices, Chinese New Year, London Metal Exchange, LME, warehouse stocks building wire

NEW YORK — Lethargic copper cathode demand pushed AMM’s spot premiums lower Feb. 12.

Free-market copper cathode premiums dipped to 4.5 to 5.5 cents per pound from 5 to 6 cents previously, the first time premiums fell to this range since early March 2012.

"Premiums are pretty low," according to one consumer, who bought a small spot load at a premium that was below 5 cents.

Spot demand for copper cathode, which has already been quiet so far in 2013, has been particularly low due the Chinese New Year holiday, which began Feb. 10.

"That’s over 40 percent of the market out of the market," a second consumer told AMM.....

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