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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.
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.
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