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 Copper Cathode CIF China: Normal ER brand heard tradable at $30/mt on Apr. 25, 2H May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at $5-$10/mt on Apr. 24, early May arrival, May pricing according to trader source
Platts Copper Cathode CIF Southeast Asia: Normal ER brand tradable heard at $40/mt on Apr. 23, early May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard bid at $5/mt on Apr. 23, early May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard traded at minus $10/mt on Apr. 23, April arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard offer at $30/mt on Apr. 23, early May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at below $20/mt on Apr. 22, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard offered at $-5-$-10/mt on Apr. 19, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at below $20/mt on Apr. 19, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard offered at $25/mt on Apr. 19, April arrival, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard tradable at below $0/mt on Apr. 18, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at $30/mt on Apr. 18, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard offered at $0/mt on Apr. 18, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard tradable at below $25/mt on Apr. 17, April arrival, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard tradable at below $0/mt on Apr. 17, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard offered at $30/mt on Apr. 17, April arrival, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard offered at $35/mt on Apr. 16, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard tradable at below $30/mt on Apr. 16, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at $30s/mt on Apr. 16, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at $30-$40/mt on Apr. 16, May pricing according to smelter source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at $40s/mt on Apr. 15, May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard tradable at $0-$5/mt on Apr. 15, May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard traded at $30s/mt on Apr. 12, H2 May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard offered at $40/mt on Apr. 12, May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard offered at $50/mt on Apr. 11, May pricing according to trader source
Platts Copper Cathode CIF China: ESOX brand heard traded at $25/mt on Apr. 11, May pricing according to trader source
Platts Copper Cathode CIF China: CCCP brand heard traded at $40s/mt on Apr. 11, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard tradable at $12-$13/mt on Apr. 11, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at below $50/mt on Apr. 11, April/May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard offered at $45-$60/mt on Apr. 11, April/May pricing according to trader source
Platts Copper Cathode CIF China: SX-EW brand heard offered at $50/mt on Apr. 11, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard offered at $15/mt on Apr. 11, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard offered at $15/mt on Apr. 9, H1 May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard tradable at $5-$10/mt on Apr. 9, H2 April arrival, Aprl pricing according to trader source
Platts Copper Cathode CIF China: EQ brand heard tradable at $10/mt on Apr. 9, H1 May arrival, May pricing according to trader source
Platts Copper Cathode CIF China: Top ER brand heard tradable at below $60/mt on Apr. 9, May pricing according to trader source
Platts Copper Cathode CIF China: Normal ER brand heard tradable at around $50/mt on Apr. 9, May pricing according to trader source
Platts assessed Chinese copper import premium at $12/mt plus London Metal Exchange cash, CIF China April 30 for LME-registered normal brands of electrolytically-refined cathode, down $3/mt on the day and down $6/mt on the week.
The Platts-assessed top ER brand differential was at $5/mt, down $3/mt on the week and the solvent-extracted/electrowon differential at minus $5/mt, S&P Global Commodity Insights data showed.
Expanding import losses and China's domestic discount continued to suppress interest in imports.
A trader source said it was hard for upstream to receive orders due to high copper prices and import activity meant losses.
In addition, there were limited offers in the market and some trades chose to stop offering as premiums were extremely low.
“Market participants prefer to deliver goods to LME warehouse, bonded zones or directly import for themselves," another trader source said.
At the same time, copper cathodes had been destocking in domestic China since last week as downstream consumers were restocking before the Labor Day holiday and some smelters planned to export.
“It is said that China smelters will export more than 50,000 mt by the end of May," a third trader source said.
Some fabricators were replacing refined copper with scrap copper, which was in tight supply, the source added.
Offers for normal brand ER cathodes were heard at $10/mt, H2 May arrival, while tradable values were reported at below $0/mt with early May arrival and May pricing.
“The import premiums for forward cargoes should be better," a fourth trader source shared.
For EQ brand cathodes, offers were heard below minus $20/mt, while the tradable values were reported at a lower level.
"I am unwilling to buy even at minus $50/mt for EQ brand cathodes now," a market source said.
Downstream new energy and household demand were driving copper consumption, and copper prices were expected to rise further.
However, the current poor import arbitrage and the high copper prices were hurting people’s buying interests.
"I expect things will be better after the long holiday as they will replenish stocks for long-term contracts, but I don't think it will be much better," a trade source said.
Platts is part of S&P Global Commodity Insights.