Clarification of copper grade A cathode, equivalent-grade cathode premium assessment specifications

Fastmarkets has clarified the specifications of its copper grade A cathode and non exchange-deliverable equivalent-grade (EQ) copper cathode premiums, to avoid any confusion regarding the deliverable status of its copper cathode assessments.

Fastmarkets uses quality specifications outlined by the London Metal Exchange for assessing copper grade A cathode and EQ copper cathode premiums, but while to copper grade A cathode refers to units being registered for delivery into the exchange, EQ copper cathode is not registered and non-exchange-deliverable as stated in the launch pricing notice.

To avoid any confusion, Fastmarkets has added notes stating “exchange deliverable” to the copper grade A cathode specifications and “non-exchange-deliverable” to the EQ copper cathode specifications, as detailed below, with additions in italics:

The clarification applies to copper grade A cathode and equivalent-grade copper cathode premium assessments for Shanghai, Southeast Asia, Taiwan, and Europe, and is reflected in our updated methodology.

MB-CU-0405 – Copper grade A cathode premium, in-whs Shanghai, $/tonne
Quality:
 Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – CuCATH-1
Quantity: Min 25 tonnes
Location: In-warehouse Shanghai port, duty unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Daily. 3-4pm London time
Notes: Exchange deliverable units

MB-CU-0383 – Copper grade A cathode ER premium, bonded in-whs Shanghai, $/tonne
Quality
: Electro-Refined Grade A cathode 99.9935% min conforming to LME specifications BS EN 1978:1998 (CuCATH-1)
Quantity: Min 25 tonnes
Location: In-warehouse Shanghai port, duty unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Daily. 3-4pm London time
Notes: Exchange deliverable units

MB-CU-0382 – Copper grade A cathode SXEW premium, bonded in-whs Shanghai, $/tonne
Quality:
 Solvent Extraction-Electro winning Grade A cathode 99.9935% min conforming to LME specifications BS EN 1978:1998 (Cu-CATH-1)
Quantity: 25 tonnes
Location: In-warehouse Shanghai port, duty unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Daily. 3-4pm London time
Notes: Exchange deliverable units

MB-CU-0403 – Copper grade A cathode premium, cif Shanghai, $/tonne
Quality:
 Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 (Cu CATH-1)
Quantity: Min 25 tonnes
Location: CIF Shanghai port, duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Daily, 3-4pm London time
Notes: Assessed by Fastmarkets in Shanghai and/or London, exchange deliverable units

MB-CU-0380 – Copper grade A cathode ER premium, cif Shanghai, $/tonne
Quality:
 Electro-Refined Grade A 99.9935% min conforming to LME specifications BS EN 1978:1998 (CuCATH-1)
Quantity: Min 25 tonnes
Location: CIF Shanghai port, duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Daily. 3-4pm London time
Notes: Exchange deliverable units

MB-CU-0384 – Copper grade A cathode SX-EW premium, cif Shanghai, $/tonne
Quality:
 Solvent Extraction-Electro winning Grade A cathode 9.9935% min conforming to LME specifications BS EN 1978:1998 (Cu-CATH-1) 
Quantity: Min 25 tonnes
Location: CIF Shanghai port, duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: LC, TT or documents against payment, other terms normalized
Publication: Daily. 3-4pm London time
Notes: Exchange deliverable units

MB-CU-0399 – Copper grade A cathode premium, cif Southeast Asia, $/tonne
Quality: 
Grade A 99.9935% min copper cathode conforming to LME specifications BS EN 1978:1998 – Cu-CATH-1
Quantity: Min 25 tonnes
Location: CIF ports of Vietnam (Ho Chi Minh/ Haiphong), Thailand (Bangkok, Laem Chabang), Malaysia (Johor, Port Klang), Indonesia (Jakarta), duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Weekly. Tuesday 3-4pm London time
Notes: Exchange deliverable units

MB-CU-0386 – Copper grade A cathode premium, cif Taiwan, $/tonne
Quality:
 Grade A 99.9935% min copper cathode conforming to LME specifications BS EN 1978:1998 – Cu-CATH-1
Quantity: Min 25 tonnes
Location: CIF delivery in Taiwanese ports, dutyunpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Once every two weeks. Tuesday 3-4pm London time
Notes: Exchange deliverable units

MB-CU-0404 – Copper grade A cathode premium, cif South Korea, $/tonne
Quality:
 Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – CuCATH-1
Quantity: Min 25 tonnes
Location: CIF delivery in main South Korean ports (Busan, Incheon, Gwangyang, Onsan), duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks Unit: USD/tonne
Payment terms: Letter of credit or telegraphic transfer, other payment terms normalized
Publication: Weekly. Tuesday 3-4pm London time
Notes: Assessed range and single number, exchange deliverable units

MB-CU-0412 – Copper EQ cathode premium, cif Shanghai, $/tonne
Quality:
 99.9935% min copper conforming to LME specifications; Ag: 0.0025% max, As: 0.0005% max, Bi: 0.00020% max, Fe: 0.0010% max, Pb: 0.0005% max, S: 0.0015% max, Se: 0.00020% max, Te: 0.00020% max
Quantity: Min 25 tonnes
Location: CIF Shanghai
Timing: Within 6 weeks
Unit: USD per tonne Payment terms: LC, TT or DP other payments normalized to cash
Publication: Weekly. Tuesday 4pm London time
Notes: Non-exchange deliverable units

MB-CU-0513 – Copper EQ cathode premium, cif Southeast Asia, $/tonne
Quality:
 99.9935% min copper conforming to LME specifications; Ag: 0.0025% max, As: 0.0005% max, Bi: 0.00020% max, Fe: 0.0010% max, Pb: 0.0005% max, S: 0.0015% max, Se: 0.00020% max, Te: 0.00020% max
Quantity: 25 tonnes
Location: CIF ports of Vietnam (Ho Chi Minh/ Haiphong), Thailand (Bangkok, Laem Chabang), Malaysia (Johor, Port Klang), Indonesia (Jakarta), duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD per tonne
Payment terms: LC, TT, DP or other payments normalized. Publication: Weekly, Tuesday 4pm London time
Notes: Non-exchange deliverable units

MB-CU-0411 – Copper EQ cathode premium, cif Europe, $/tonne
Quality:
 99.9935% min copper conforming to LME specifications; Ag: 0.0025% max, As: 0.0005% max, Bi: 0.00020% max, Fe: 0.0010% max, Pb: 0.0005% max, S: 0.0015% max, Se: 0.00020% max, Te: 0.00020% max 
Quantity: Min 25 tonnes
Location: CIF Europe
Timing: Within 4 weeks
Unit: USD per tonne
Payment terms: Cash payment, other terms normalized
Publication: Once every two weeks. Tuesday 4pm London time
Notes: Non-exchange deliverable units

MB-CU-0369 – Copper grade A cathode premium, cif Rotterdam, $/tonne
Quality:
 Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – CuCATH-1
Quantity: Min 25 tonnes
Location: CIF delivery in Rotterdam, duty unpaid premium on top of LME cash prices
Timing: Within 4 weeks
Unit: USD/tonne
Payment terms: Cash, other payment terms normalized
Publication: Once every two weeks. Tuesday 3-4pm London time
Notes: Exchange deliverable units

MB-CU-0406 – Copper grade A cathode premium, cif Leghorn, $/tonne
Quality:
 Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – CuCATH-1
Quantity: 25 tonnes
Location: CIF delivery in Leghorn (Italy), duty unpaid premium on top of LME cash prices
Timing: Within 4 weeks
Unit: USD/tonne
Payment terms: Cash, other payment terms normalized
Publication: Once every two weeks. Tuesday 3-4pm London time
Notes: Exchange deliverable units

MB-CU-0372 – Copper grade A cathode premium, delivered Germany, $/tonne
Quality:
 Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – CuCATH-1
Quantity: Min 25 tonnes
Location: Delivered consumer works in Germany, duty unpaid premium on top of LME cash prices
Timing: Within 4 weeks
Unit: USD/tonne
Payment terms: Cash, other payment terms normalized
Publication: Once every two weeks. Tuesday 3-4pm London time
Notes: Exchange deliverable units

To provide feedback on these premiums or if you would like to provide price information by becoming a data submitter, please contact Sally Zhang by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Sally Zhang, re: Copper cathode premium assessments.”

To see all Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/methodology.

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