Premiums reveal market distortion: Luvata

Apr 10, 2013 | 01:34 PM | Andrea Hotter

Tags  Cesco Week, copper, copper premiums, Luvata, Ian Scarlett, London Metal Exchange, LME, Hong Kong Exchanges & Clearing warehouses

SANTIAGO, Chile — Physical copper premiums don’t reflect market fundamentals, an indication that "the copper value chain is broken," according to Luvata vice president of metals Ian Scarlett.

"We would like premiums to reflect the business environment supply-demand cycles and not to be complicated by structural games," he said at the Center for Copper and Mining Studies’ annual Cesco Week in Santiago. "At a time of increasing surplus, we’re seeing material being restricted and premiums increasing, which is not logical."....

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