Chile port strike may push copper cathode up

Apr 02, 2013 | 02:21 PM | Suzy Waite

Tags  Copper, copper premiums, copper cathode, Chilean port strike, Angamos, San Antonio, Antofagasta, Inquique New Orleans

NEW YORK — A Chilean port dispute and copper scrap tightness could push copper cathode premiums up in the next few weeks, traders and consumers told AMM.

Spot copper cathode premiums remain between 4.5 and 5.5 cents per pound but market participants expect them to increase, pointing to an ongoing strike at the Chilean ports of Angamos, Antofagasta, Inquique and San Antonio (amm.com, March 28).

Traders with material waiting at Chilean ports said the strike is already pushing back deliveries, and if the dispute is prolonged premiums will undoubtedly get a boost, particularly as copper demand continues to improve in the spring. ....





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