copper producer Corporación Nacional del Cobre de Chile
(Codelco) will offer its European customers a premium of $112
per tonne for copper cathode to be supplied in 2014, sources
told AMM sister publication Metal
The premium is 32
percent higher than Codelcos 2013 premium and $7 per
tonne above Aurubis AGs offer for 2014.
largest copper producer is likely to make its offer as early as
Oct. 8, the companys customers told Metal
Bulletin as LME Week got under way in London.
immediately available for comment.
The higher offer goes
against some expectations that Aurubis early settlement
would effectively cap any hikes in Codelcos premium.
produces about 1.1 million tonnes of cathode from smelters in
Europe, for the past two years has taken a more active role in
setting premiums in its home market.
As the larger supplier
to the region, its premiums are becoming an increasingly
important reference in annual supply negotiations, a large
is also substantially higher than terms seen in 2013, but the
Hamburg, Germany-based copper producer has taken a more
conservative approach in pricing cathode for next year, a
A version of this
story was first published in AMM sister publication Metal