Published September 28, 2012
SANTIAGO – Codelco, the world's No.1 copper producer, will seek to reduce 2013 physical copper premiums to Asian buyers by about $5, while its European rate will likely be held or trimmed by a smaller amount, a source linked to the company told Reuters.
The possible offer of a roughly $105 premium per tonne for Chinese clients over cash London Metal Exchange copper prices comes as international mining companies fret about a sag in demand from top metals consumer China.
For 2012, Codelco
Copper, which is used extensively in construction and is seen as a bellwether for the health of the global economy, gained around 7 percent this quarter, closing at $8,205 a tonne on Friday.
(Reporting By Alexandra Ulmer and Fabian Cambero)