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After a month-long consultation, Fastmarkets is amending the frequency of its copper cathode premium cif South Korea pricing to fortnightly from weekly, instead of discontinuing the assessment as was originally proposed, based on market feedback.
South Korea is a major producer of grade A registered refined copper cathodes, but there is still some spot demand despite low import interest in recent years, according to market participants.
The fortnightly pricing for South Korea registered copper premium will start from Tuesday March 9, 2021. The specifications for the assessment, with amendments in italics, are as follows:
MB-CU-0404 Copper grade A cathode premium, cif South Korea, $ per 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: Once every two weeks. Tuesday 3-4pm London time Notes: Assessed range and single number
To provide feedback on this change, or if you would like to provide price information by becoming a data submitter to these prices, please contact Archie Hunter/Sally Zhang by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Archie Hunter/Sally Zhang, re: South Korea copper premiums.’
To see all Fastmarkets’ pricing methodology and specification documents, go to www.fastmarkets.com/about-us/methodology.
[This article was updated to amend the price identifier code, which due to a reporter error had appeared incorrectly when this article was initially published.]