Copper Market

2014-08-04 - 

Copper today

Copper today

Copper is scarce.... With only approx. 170,000 tons left in the LME warehouses and virtually no free available units in Europe, this explains the enormous rise in the physical delivery premiums during recent months. In addition to this, there is backwardation of $ 100 / ton on top of this in the meantime. We have rarely seen the copper market as tight as it has been in recent months. Cathodes have been difficult to source in larger quantities in Europe. The supply of scrap has also been far below normal and the LME stocks continued to fall further in spite of backwardation. The prices on the LME have now recovered by 10% from a low in [...]

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Official German electrolytic copper listing

Year 2014 upper DEL [EUR] Reuter FX1 EUR/USD
ø January 547.07 1.3589
ø February 535.09 1.3626
ø March 493.51 1.3794
ø April 494.01 1.3785
ø May 512.51 1.3703
ø June 512.12 1.3561
ø July 536.06 1.3513


Conductive Copper

The DEL quote reflects the buying prices for copper that purchasers of copper pay to the large international copper producers. The DEL quote consists of the following positions:
- LME quote for grade A copper and
- the sourcing premiums that are imposed by the international copper producers, the so-called "cathode premiums"

The DEL quote is a pricing index which has been approved by the Federal Cartel Authority and is monitored by a trust agency set up by the DEL quote protection association. The sources reporting include cable manufacturers as well as industrial companies and electrical distributors.
The trust agency calculates the DEL quote on every LME trading day and this is based on the LME quote per day, the premium payable and the appropriate US$/Euro exchange rate issued by the Frankfurt Foreign Currency Exchange.

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