China Spot Copper Premiums Down, Codelco May Offer $110
Investing News Network - November 11th, 2011
Reuters reported that Chinese importers are buying less spot copper due to the difficulty in securing U.S. dollar letters of credit.
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.