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Strike, Smelter Closures Force up Asian Copper Premiums on Short Supply
Apr. 04, 2013 08:58AM PST
Base Metals Investing Reuters reported that Asian copper premiums are jumping up as a strike in Chile and force majeure declared at India’s largest smelter is constricting copper supply.
Reuters reported that Asian copper premiums are jumping up as a strike in Chile and force majeure declared at India’s largest smelter is constricting copper supply.
As quoted in the market report:
Premiums for Grade A copper warrants in Singapore warehouses CU-GDA-SG were quoted at $50 to $65 from $30 to $40 last Thursday, traders said, the highest in almost a year.
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