Copper Premium Paid in U.S. Midwest Seen Rising by Metal Traders
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The premium that copper buyers are expected to pay in the U.S. Midwest rose last month, according to three people trading the market.
The fee, added to the price of copper futures traded in New York, is at 7.125 cents a pound, according to the traders, who asked not to be identified because they aren’t authorized to speak to the media. That compares with a 7-cent premium in mid-October. Each trader provided an estimate or range for the premium, and the final figure was derived from the median of the midpoint of each set of estimates.