Copper Premiums in China Hit 3 Year High

Reuters reported today that domestic physical copper traded at a 1,570 yuan premium or $250 on China’s local market, the highest in three years. The price rise is due to a tightened domestic copper supply following a sell off of copper stocks in March, according to Reuters.

As quoted in the publication:

Soaring premiums – the price paid on top of local cash futures prices to obtain metal – have surprised some given sluggish factory growth in the world’s top consumer, suggesting that Chinese demand in some sectors may be holding up better than broader data suggests.

Click here to read the full Reuters article.