UPDATE 1: Aurubis’ European copper premium offered at four-year high

Germany's Aurubis has offered European customers a copper premium of $96 per tonne for 2019 contracts, a $10 per tonne increase on last year’s numbers, the company confirmed to Fastmarkets.

October 1, 2018

By Generic people page

Base metals Copper

Aurubis spokesman Malte Blombach confirmed its premium initially reported by Fastmarkets on Monday at 10:39am London time.

The offer forms the basis of Aurubis’ contracts with copper product customers as well as constituting a delivered cathode premium. At $96 per tonne, the premium is the highest since 2015 when it offered customers a $110 per tonne premium.

The move comes after Chile’s state-owned copper producer Codelco also increased its offer to European customers by $10 year on year with a $98 per tonne offer for 2019 supply.

Additional reporting by Julian Luk

[This article was updated to include confirmation of the premium offer from the company.]

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