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Chilean miner Codelco has increased its United States’ annual copper cathode premium to 3.1 cents per lb for 2020 supply, making it the benchmark’s highest level since 2016, sources close to the matter confirmed to Fastmarkets.
The benchmark premium paid for the supply of aluminium to main Japanese ports (MJP) in the fourth quarter of 2019 has settled at $97 per tonne on a cif basis over the London Metal Exchange cash price.
Adjustments to EU safeguard measures will “stabilize trade flows by containing import concentrations from certain exporting countries,” the European steel association Eurofer said on October 1.
Prices of cobalt metal, salts and hydroxide continued their upward momentum in September, while the chemical prices outperformed amid strong demand incited by concerns of supply tightness following the news on Glencore’s Mutanda mine closure in early August.
Ferro-alloys prices will continue to trade lower going into 2020 amid slowing economic and steel production growth, Fastmarkets analyst, Amy Bennett, told delegates at the North-American Ferro-alloys conference in Chicago last week.