Fastmarkets uses quality specifications outlined by the London Metal Exchange for assessing copper grade A cathode and EQ copper cathode premiums, but while to copper grade A cathode refers to units being registered for delivery into the exchange, EQ copper cathode is not registered and non-exchange-deliverable as stated in the launch pricing notice.
To avoid any confusion, Fastmarkets has added notes stating “exchange deliverable” to the copper grade A cathode specifications and “non-exchange-deliverable” to the EQ copper cathode specifications, as detailed below, with additions in italics:
The clarification applies to copper grade A cathode and equivalent-grade copper cathode premium assessments for Shanghai, Southeast Asia, Taiwan, and Europe, and is reflected in our updated methodology.
MB-CU-0405 – Copper grade A cathode premium, in-whs Shanghai, $/tonne
Quality: Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – CuCATH-1
Quantity: Min 25 tonnes
Location: In-warehouse Shanghai port, duty unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Daily. 3-4pm London time
Notes: Exchange deliverable units
MB-CU-0383 – Copper grade A cathode ER premium, bonded in-whs Shanghai, $/tonne
Quality: Electro-Refined Grade A cathode 99.9935% min conforming to LME specifications BS EN 1978:1998 (CuCATH-1)
Quantity: Min 25 tonnes
Location: In-warehouse Shanghai port, duty unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Daily. 3-4pm London time
Notes: Exchange deliverable units
MB-CU-0382 – Copper grade A cathode SXEW premium, bonded in-whs Shanghai, $/tonne
Quality: Solvent Extraction-Electro winning Grade A cathode 99.9935% min conforming to LME specifications BS EN 1978:1998 (Cu-CATH-1)
Quantity: 25 tonnes
Location: In-warehouse Shanghai port, duty unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Daily. 3-4pm London time
Notes: Exchange deliverable units
MB-CU-0403 – Copper grade A cathode premium, cif Shanghai, $/tonne
Quality: Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 (Cu CATH-1)
Quantity: Min 25 tonnes
Location: CIF Shanghai port, duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Daily, 3-4pm London time
Notes: Assessed by Fastmarkets in Shanghai and/or London, exchange deliverable units
MB-CU-0380 – Copper grade A cathode ER premium, cif Shanghai, $/tonne
Quality: Electro-Refined Grade A 99.9935% min conforming to LME specifications BS EN 1978:1998 (CuCATH-1)
Quantity: Min 25 tonnes
Location: CIF Shanghai port, duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Daily. 3-4pm London time
Notes: Exchange deliverable units
MB-CU-0384 – Copper grade A cathode SX-EW premium, cif Shanghai, $/tonne
Quality: Solvent Extraction-Electro winning Grade A cathode 9.9935% min conforming to LME specifications BS EN 1978:1998 (Cu-CATH-1)
Quantity: Min 25 tonnes
Location: CIF Shanghai port, duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: LC, TT or documents against payment, other terms normalized
Publication: Daily. 3-4pm London time
Notes: Exchange deliverable units
MB-CU-0399 – Copper grade A cathode premium, cif Southeast Asia, $/tonne
Quality: Grade A 99.9935% min copper cathode conforming to LME specifications BS EN 1978:1998 – Cu-CATH-1
Quantity: Min 25 tonnes
Location: CIF ports of Vietnam (Ho Chi Minh/ Haiphong), Thailand (Bangkok, Laem Chabang), Malaysia (Johor, Port Klang), Indonesia (Jakarta), duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Weekly. Tuesday 3-4pm London time
Notes: Exchange deliverable units
MB-CU-0386 – Copper grade A cathode premium, cif Taiwan, $/tonne
Quality: Grade A 99.9935% min copper cathode conforming to LME specifications BS EN 1978:1998 – Cu-CATH-1
Quantity: Min 25 tonnes
Location: CIF delivery in Taiwanese ports, dutyunpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit, telegraphic transfer or documents against payment, other payment terms normalized
Publication: Once every two weeks. Tuesday 3-4pm London time
Notes: Exchange deliverable units
MB-CU-0404 – Copper grade A cathode premium, cif South Korea, $/tonne
Quality: Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – CuCATH-1
Quantity: Min 25 tonnes
Location: CIF delivery in main South Korean ports (Busan, Incheon, Gwangyang, Onsan), duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks Unit: USD/tonne
Payment terms: Letter of credit or telegraphic transfer, other payment terms normalized
Publication: Weekly. Tuesday 3-4pm London time
Notes: Assessed range and single number, exchange deliverable units
MB-CU-0412 – Copper EQ cathode premium, cif Shanghai, $/tonne
Quality: 99.9935% min copper conforming to LME specifications; Ag: 0.0025% max, As: 0.0005% max, Bi: 0.00020% max, Fe: 0.0010% max, Pb: 0.0005% max, S: 0.0015% max, Se: 0.00020% max, Te: 0.00020% max
Quantity: Min 25 tonnes
Location: CIF Shanghai
Timing: Within 6 weeks
Unit: USD per tonne Payment terms: LC, TT or DP other payments normalized to cash
Publication: Weekly. Tuesday 4pm London time
Notes: Non-exchange deliverable units
MB-CU-0513 – Copper EQ cathode premium, cif Southeast Asia, $/tonne
Quality: 99.9935% min copper conforming to LME specifications; Ag: 0.0025% max, As: 0.0005% max, Bi: 0.00020% max, Fe: 0.0010% max, Pb: 0.0005% max, S: 0.0015% max, Se: 0.00020% max, Te: 0.00020% max
Quantity: 25 tonnes
Location: CIF ports of Vietnam (Ho Chi Minh/ Haiphong), Thailand (Bangkok, Laem Chabang), Malaysia (Johor, Port Klang), Indonesia (Jakarta), duty-unpaid premium on top of LME cash prices
Timing: Within 6 weeks
Unit: USD per tonne
Payment terms: LC, TT, DP or other payments normalized. Publication: Weekly, Tuesday 4pm London time
Notes: Non-exchange deliverable units
MB-CU-0411 – Copper EQ cathode premium, cif Europe, $/tonne
Quality: 99.9935% min copper conforming to LME specifications; Ag: 0.0025% max, As: 0.0005% max, Bi: 0.00020% max, Fe: 0.0010% max, Pb: 0.0005% max, S: 0.0015% max, Se: 0.00020% max, Te: 0.00020% max
Quantity: Min 25 tonnes
Location: CIF Europe
Timing: Within 4 weeks
Unit: USD per tonne
Payment terms: Cash payment, other terms normalized
Publication: Once every two weeks. Tuesday 4pm London time
Notes: Non-exchange deliverable units
MB-CU-0369 – Copper grade A cathode premium, cif Rotterdam, $/tonne
Quality: Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – CuCATH-1
Quantity: Min 25 tonnes
Location: CIF delivery in Rotterdam, duty unpaid premium on top of LME cash prices
Timing: Within 4 weeks
Unit: USD/tonne
Payment terms: Cash, other payment terms normalized
Publication: Once every two weeks. Tuesday 3-4pm London time
Notes: Exchange deliverable units
MB-CU-0406 – Copper grade A cathode premium, cif Leghorn, $/tonne
Quality: Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – CuCATH-1
Quantity: 25 tonnes
Location: CIF delivery in Leghorn (Italy), duty unpaid premium on top of LME cash prices
Timing: Within 4 weeks
Unit: USD/tonne
Payment terms: Cash, other payment terms normalized
Publication: Once every two weeks. Tuesday 3-4pm London time
Notes: Exchange deliverable units
MB-CU-0372 – Copper grade A cathode premium, delivered Germany, $/tonne
Quality: Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – CuCATH-1
Quantity: Min 25 tonnes
Location: Delivered consumer works in Germany, duty unpaid premium on top of LME cash prices
Timing: Within 4 weeks
Unit: USD/tonne
Payment terms: Cash, other payment terms normalized
Publication: Once every two weeks. Tuesday 3-4pm London time
Notes: Exchange deliverable units
To provide feedback on these premiums or if you would like to provide price information by becoming a data submitter, please contact Sally Zhang by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Sally Zhang, re: Copper cathode premium assessments.”
To see all Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/methodology.
