The rationale has been corrected to show that the ER and SX-EW premiums should have been $55-62 per tonne and $45-55 per tonne respectively, rather than unchanged as initially stated.
There was no change to the final assessment for MB-CU-0403 copper grade A cathode premium, cif Shanghai, which was published correctly at $45-62 per tonne on Tuesday.
The rationale after amendments is as below:
ER premium was assessed at $55-62/t, against $50-60/t a day earlier. An offer was at $78/t for CCCP cathodes arriving in late March. A trader assessed ER market $55-62/t, and another three traders assessed at $50-60/t.
SX-EW premium was assessed at $45-55/t, against $45-50/t a day earlier. An offer was at $55/t, with no business heard. A trader assessed SX-EW market at $50-55/t, and another two traders saw it at $45-50/t.
For more information, or to provide feedback on this correction notice, or if you would like to provide price information by becoming a data submitter to these prices, please contact Sally Zhang by email at: pricing@fastmarkets.com. Please add the subject heading: “FAO: Sally Zhang Re: Shanghai copper cathode CIF premium.”
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.
