Codelco’s 2013 Copper Premium Not Expected to Rise

Platts reported that participants in Europe’s physical copper market anticipate that next year Chile’s Codelco will set its premium for Grade A material in-warehouse Rotterdam at or below 2012′s benchmark price of $90 per metric tonne, in addition to London Metal Exchange cash.

As quoted in the market news:

Two physical traders said that Codelco would be “crazy” to put premiums up at a time when China is very long copper, with poor demand on the consumption side, saying they were likely to stick at $90/mt.

A fabricator source said he believed that they could even cut to $85/mt.

Click here to read the full Platts report.