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Robert Friedland: Copper premiums on SHFE and COMEX exceed LME amid strong China and U.S. demand
Copper contracts traded on the Shanghai Futures Exchange (SHFE) and COMEX are commanding significant premiums relative to prices on the London Metal Exchange (LME). The SHFE-LME premium stands at $72 per tonne, reflecting robust demand from China, while the COMEX-LME spread points to ongoing strength in the U.S. Despite copper prices reaching record highs, this persistent premium suggests that buyers in both China and the U.S. are maintaining an aggressive procurement pace.
Recent gains in Chinese commodity markets follow earlier reports of rising platinum deliveries on the Guangzhou Futures Exchange as demand remains strong. Robert Friedland has previously called for innovation and faster development in the copper mining sector to address ongoing supply pressures, according to past comments. The interplay of robust demand and supply challenges continues to shape global metal prices.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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