Strike, Smelter Closures Force up Asian Copper Premiums on Short 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.

To view the whole Reuters report, click here.