US copper cathode premiums rise significantly
May 03, 2013 | 02:01 PM
| Barbara O'Donovan
NEW YORK U.S. copper cathode premiums have soared in the aftermath of a wall slide at Kennecott Utah Coppers Bingham Canyon Mine.
AMMs 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 (amm.com, 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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