This figure will be charged on top of the London Metal Exchange copper price.
This represents a significant increase on the benchmark premium of $123 per tonne set for 2022, although the company did add $35 per tonne surcharge to that figure in June, citing rising energy costs.
The Aurubis number, along with Codelco’s annual offer, are generally regarded as the cathode trading benchmark by the industry.
There was an expectation that premiums could rise this year and recycler and cathode refiner Montanwerke-Brixlegg led the way, announcing a €295 per tonne premium on its European copper in early September.
Copper premiums have been volatile in Europe through 2022 so far, due to soaring energy prices and “self-sanctioning” with regard to Russian units since Russia’s unprovoked invasion of Ukraine in February.
Fastmarkets’ fortnightly assessment of the copper grade A cathode premium, delivered Germany, was $140-160 per tonne on Tuesday, October 4, up significantly from $8 per tonne at the end of 2021.
