Aurubis increases copper premium offer by 85% for 2023

German copper producer Aurubis is implementing a premium of $228 per tonne for 2023 for its European clients, the company said on Thursday October 13 in a memo to customers seen by Fastmarkets

This figure will be charged on top of the London Metal Exchange copper price.

This represents a significant increase on the benchmark premium of $123 per tonne set for 2022, although the company did add $35 per tonne surcharge to that figure in June, citing rising energy costs.

The Aurubis number, along with Codelco’s annual offer, are generally regarded as the cathode trading benchmark by the industry.

There was an expectation that premiums could rise this year and recycler and cathode refiner Montanwerke-Brixlegg led the way, announcing a €295 per tonne premium on its European copper in early September.

Copper premiums have been volatile in Europe through 2022 so far, due to soaring energy prices and “self-sanctioning” with regard to Russian units since Russia’s unprovoked invasion of Ukraine in February.

Fastmarkets’ fortnightly assessment of the copper grade A cathode premium, delivered Germany, was $140-160 per tonne on Tuesday, October 4, up significantly from $8 per tonne at the end of 2021.

What to read next
African material will remain part of the tantalum supply chain regardless of the lithium market, according to Ian Margerison, executive marketing manager at the Tantalum-Niobium International Study Center (TIC).
Sluggish demand for China’s graphite flake fines in both the batteries’ anode and refractories sectors has led to ongoing output cuts among flake miners and processors, which has further tightened the supply of large flake graphite in China, sources told Fastmarkets.
The growth in Chinese shipments of batteries for energy storage systems (ESS) is far outstripping the growth in deliveries of batteries for electric vehicles (EVs), sources told Fastmarkets in the week to Friday November 1.
UK Chancellor of the Exchequer Rachel Reeves has confirmed that fuel duty will not rise in 2025, keeping the previous 5 pence-per-liter discount in place.
After a consultation period, Fastmarkets has discontinued the price due to a lack of liquidity and production of the commodity. All short-term forecasts associated with this price produced by the Fastmarkets research team, if any, have also been discontinued. If you have any comments on the discontinuation of this price, please contact Zihao Li by email […]
Australian lithium producer Pilbara Minerals will be placing its Ngungaju plant on care and maintenance from December 2024, the company announced on Tuesday October 29.