US copper cathode premiums rise significantly

May 03, 2013 | 02:01 PM | Barbara O'Donovan

Tags  copper cathode, premium, Kennecott Utah Copper, Bingham Canyon Mine, force majeure, PMX Industries, Barbara O'Donovan

NEW YORK — U.S. copper cathode premiums have soared in the aftermath of a wall slide at Kennecott Utah Copper’s Bingham Canyon Mine.

AMM’s spot copper cathode premiums rose to a range of 6 to 8 cents per pound on a delivered basis May 1, up from 4.5 to 5.5 cents previously.

Quotes for spot material rose soon after the April 10 wall slide (, April 17), but most consumers held back from buying until more information about the situation was available. Kennecott declared force majeure April 16, saying it did not expect to be able to make shipments from June onward.....

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