Euro spot copper premiums slide; contract talks in focus

Sep 04, 2013 | 06:44 PM | Mark Burton

Tags  European spot copper premiums, scrap, copper, Rotterdam copper premiums, China, Europe, Corporaction Nacional del Cobre de Chile, Codelco London Metal Exchange

LONDON — Spot copper premiums are easing back toward $100 per tonne in the European market as scrap supply improves and traders offer material more freely, sources told AMM sister publication Metal Bulletin.

Metal Bulletin’s in-warehouse Rotterdam copper premiums fell to $105 to 130 per tonne Sept. 3, down from $120 to $140 at the end of August and eight-year highs of $160 in mid-July.

The decrease in premiums has coincided with a moderate rally in outright copper prices on the London Metal Exchange over the past month that has taken copper prices above the $7,000-per-tonne threshold.....

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