China Spot Copper Premiums Down, Codelco May Offer $110

Reuters reported that Chinese importers are buying less spot copper due to the difficulty in securing U.S. dollar letters of credit.

As quoted in the market news:

This has cut spot premiums and may spill over into next year, with the world’s top copper producer Codelco expected to offer a premium of $110 a tonne for refined copper for delivery in 2012.

Click here to read the full Reuters report.