Platts Copper Cathode Warrants: CCCP brand heard traded at $5/mt on May 16, June pricing according to trader source
Platts Copper Cathode Warrants: SX-EW brand heard traded at minus $10/mt on May 16, June pricing according to trader source
Platts Copper Cathode Warrants: Normal ER brand heard tradable around at flat on May 16, June pricing according to trader source
Platts Copper Cathode CIF China: CCCP brand heard traded at $10/mt on May 16 in a second hand, June pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard tradable at a discount on May 16, June pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at flat on May 16, June pricing according to trader source
Platts Copper Cathode CIF China: Top ER brand heard tradable at below $5/mt on May 16, June pricing according to trader source
Platts Copper Cathode CIF China: Top brand heard traded at $10/mt on May 15 in a second hand, May/June pricing according to trader source
Platts Copper Cathode CIF China: OG brand heard bid at $-10/mt on May 14, June pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at discount to flat on May 14, June pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at discount on May 13, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard traded at $5/mt on May 13, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at $0-$5/mt on May 13, May pricing according to trader source
Platts Copper Cathode Warrants: Normal ER brand heard tradable at around $0/mt on May 13, May pricing according to producer source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at around $2/mt on May 13, May pricing according to producer source
Platts Copper Cathode CIF China: EQ brand heard offered at $-30/mt on May 10, May/June pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard offered at $10/mt on May 10, H2 May arrival, June pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard offered at $10/mt on May 10, H2 May arrival, June pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard bid at flat on May 10, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard tradable at $-35-$-50/mt on May 9, May/June pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at flat on May 9, May/June pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard bid at a discount on May 9, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at a discount on May 9, May pricing according to trader source
Platts Copper Cathode CIF China: AE brand heard bid at 10 on May 9, H1 May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at $0/mt on May 8, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard indicatively tradable at $0-10/mt on May 8, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard traded at $-45/mt on May 8, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard offered at $10/mt on May 8, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard tradable at $5/mt on May 8, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard tradable at $-20/mt on May 8, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard offered at $0/mt on May 8, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard indicatively offered at $10/mt on May 8, May pricing according to trader source
Platts Copper Cathode CIF China: top ER brand differential heared at $5/mt on May 8, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard offered at $10/mt on May 7, May pricing according to trader source
Platts Copper Cathode CIF China: AE brand heard offered at $45/mt on May 7, H1 May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: AE brand heard tradable at $30/mt on May 7, H1 May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard offered at around $20s/mt on May 7, H2 May arrival, June pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard offered at $10/mt on Apr. 30, H2 May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard offered at below $-20/mt on Apr. 30, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at $5-$10/mt on Apr. 29, H2 May arrival, June pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at below $0/mt on Apr. 29, early May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at below $5/mt on Apr. 29, early May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard tradable at around $-10/mt on Apr. 29, early May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at above $0/mt on Apr. 29, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard tradable at around $-30/mt on Apr. 29, early May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at $-5-$-10/mt on Apr. 29, early May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at negative on Apr. 29, early May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard tradable at around $-30/mt on Apr. 29, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at negative on Apr. 26, early May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at negative on Apr. 25, early May arrival, May pricing according to trader source
Platts assessed Chinese copper import premium at $5/mt plus London Metal Exchange cash, CIF China, May 15 for LME-registered normal brands of electrolytically-refined cathode, unchanged on the day and down $5/mt on the week.
Only a few deals were heard concluded in the week to May 15, as the market remained weak and buying interests were still low, market sources said.
A transaction was heard concluded at $10/mt CIF China for CCCP brand cathodes May 15.
A second deal was reported traded at $5/mt for SX-EW brand cathodes May 13, with May QP.
Offers for normal brand ER cathodes were heard at flat to $5/mt, with May/June QP, while tradable values were heard at around $0/mt.
A smelter source said they received a bid at minus $10/mt from consumers for off-grade cathodes, and it was not a bad price now.
High copper prices continued to put pressures on the downstream consumptions and the inventory level was high in domestic China.
"The financial costs can be partly covered by the contango structure of copper prices," a trader source said.
Therefore, people preferred to ship directly to the bonded area instead of selling at a discount, resulting in the increase of cathode copper inventories in the bonded area.
"Almost no demand for copper cathodes in the spot market now, and people only want to buy when spot prices are below Yuan 80,000/mt," a trader source said, and added that the downstream operating rate dropped by more than 10% last week.
Fabricators who can use scraps as raw materials also preferred to replace refined cathodes with scraps due to the cost advantages.
Another smelter source said they felt consumers began to accept high copper prices. "Factories have to produce after all," the source said.
Chinese smelters were planning to export cathodes due to the current price inversion, but it took time to deliver those goods to LME warehouse.
Platts is part of S&P Global Commodity Insights.