Initial trades on the CME’s copper cif Shanghai futures contract have pegged physical premiums for grade A cathodes at $65 per tonne for the first quarter of 2018.
Trades today came in the form of 1 lot placed on January, February and March contracts, all at $65 per tonne, meaning tonnage traded on the contract so far totals 75 lots.
The contract is settled against the monthly average of the Metal Bulletin daily copper premiums assessment, basis cif Shanghai.
The latest monthly average was $71.35 per tonne for November.
Those wishing to find out more about the contract and how Metal Bulletin assesses copper premiums in Shanghai can view a webinar featuring deputy Asia editor Kiki Kang and the CME’s Shan Islam here.