Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

State-backed Chilean copper miner Codelco has rolled over its existing copper premiums for cathode supply to a South Korean customer in 2021. 


According to media reports, the miner secured an $83/mt premium for physical delivery of its copper cathodes to a Korean cable maker, to be paid above the LME Copper three-month price benchmark. The latter has agreed to purchase around 50,000mt of copper from the Chilean miner during the span of next year. 


The news broke days after Codelco secured a similar $88/mt premium with its Chinese customers for 2021. Reports suggest that the company is in talks to continue such premiums in other countries, such as Japan and Taiwan, to maintain its copper premiums at levels it has traded this year. 

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