Green Asia

Codelco’s copper premium offer to South East Asia client drops 30%

LONDON : Chile’s Codelco has offered copper cathode at a premium of $85 a metric ton to a client in South East Asia for next year, a drop of 29 per cent from this year, two sources familiar with the matter said this week.

Coelco in London did not respond to requests for comment.

Premiums agreed by producers for physical delivery of copper are paid on top of the reference London Metal Exchange (LME) benchmark contract.

Codelco the world’s largest copper miner cut the premium for selling copper to its biggest Chinese clients to $89 a ton for next year, down 36 per cent from this year.

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