/ Price Assessments

Copper Cathode Assessments

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What are Copper Cathode Assessments?
Copper Cathode - assesses two daily CIF China (basis Shanghai) differentials -- one for higher grade ER cathodes, which generally trade at a premium to generic ER, and the other for copper cathodes produced using the solvent extraction-electrowinning process (SX-EW), which tend to trade at a discount to generic ER cathodes.
Copper Cathode Heards
April 19 2024

Platts Copper Cathode CIF China: EQ brand heard offered at $-5-$-10/mt on Apr. 19, May pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard tradable at below $20/mt on Apr. 19, May pricing according to trader source


Platts Copper Cathode CIF China: SX-EW brand heard offered at $25/mt on Apr. 19, April arrival, May pricing according to trader source


April 18 2024

Platts Copper Cathode CIF China: EQ brand heard tradable at below $0/mt on Apr. 18, May pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard tradable at $30/mt on Apr. 18, May pricing according to trader source


Platts Copper Cathode CIF China: EQ brand heard offered at $0/mt on Apr. 18, May pricing according to trader source


April 17 2024

Platts Copper Cathode CIF China: SX-EW brand heard tradable at below $25/mt on Apr. 17, April arrival, May pricing according to trader source


Platts Copper Cathode CIF China: EQ brand heard tradable at below $0/mt on Apr. 17, May pricing according to trader source


Platts Copper Cathode CIF China: SX-EW brand heard offered at $30/mt on Apr. 17, April arrival, May pricing according to trader source


April 16 2024

Platts Copper Cathode CIF China: SX-EW brand heard offered at $35/mt on Apr. 16, May pricing according to trader source


Platts Copper Cathode CIF China: SX-EW brand heard tradable at below $30/mt on Apr. 16, May pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard tradable at $30s/mt on Apr. 16, May pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard tradable at $30-$40/mt on Apr. 16, May pricing according to smelter source


April 15 2024

Platts Copper Cathode CIF China: Normal ER brand heard tradable at $40s/mt on Apr. 15, May arrival, May pricing according to trader source


Platts Copper Cathode CIF China: EQ brand heard tradable at $0-$5/mt on Apr. 15, May arrival, May pricing according to trader source


April 12 2024

Platts Copper Cathode CIF China: EQ brand heard traded at $30s/mt on Apr. 12, H2 May arrival, May pricing according to trader source


Platts Copper Cathode CIF China: SX-EW brand heard offered at $40/mt on Apr. 12, May pricing according to trader source


Platts Copper Cathode CIF China: SX-EW brand heard offered at $50/mt on Apr. 11, May pricing according to trader source


Platts Copper Cathode CIF China: ESOX brand heard traded at $25/mt on Apr. 11, May pricing according to trader source


Platts Copper Cathode CIF China: CCCP brand heard traded at $40s/mt on Apr. 11, May pricing according to trader source


April 11 2024

Platts Copper Cathode CIF China: EQ brand heard tradable at $12-$13/mt on Apr. 11, May pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard tradable at below $50/mt on Apr. 11, April/May pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard offered at $45-$60/mt on Apr. 11, April/May pricing according to trader source


Platts Copper Cathode CIF China: SX-EW brand heard offered at $50/mt on Apr. 11, May pricing according to trader source


Platts Copper Cathode CIF China: EQ brand heard offered at $15/mt on Apr. 11, May pricing according to trader source


April 09 2024

Platts Copper Cathode CIF China: EQ brand heard offered at $15/mt on Apr. 9, H1 May arrival, May pricing according to trader source


Platts Copper Cathode CIF China: EQ brand heard tradable at $5-$10/mt on Apr. 9, H2 April arrival, Aprl pricing according to trader source


Platts Copper Cathode CIF China: EQ brand heard tradable at $10/mt on Apr. 9, H1 May arrival, May pricing according to trader source


Platts Copper Cathode CIF China: Top ER brand heard tradable at below $60/mt on Apr. 9, May pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard tradable at around $50/mt on Apr. 9, May pricing according to trader source


Platts Copper Cathode CIF China: Top ER brand heard traded at around $57-$59/mt on Apr. 9, H2 April arrival, May pricing according to trader source


April 08 2024

Platts Copper Cathode CIF China: EQ brand heard traded at $12-$13/mt on Apr. 8, April loading, May arrival, May pricing according to trader source


Platts Copper Cathode CIF China: EQ brand heard offered at $15/mt on Apr. 8, April arrival, April/May pricing according to trader source


Platts Copper Cathode CIF China: EQ brand heard traded at $12/mt on Apr. 8, April arrival, April pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard offered at $55-$60/mt on Apr. 8, April/May pricing according to trader source


April 05 2024

Platts Copper Cathode CIF China: Normal ER brand heard offered at $55/mt on Apr. 5, H2 April arrival, May pricing according to trader source


Platts Copper Cathode Warrants: Normal ER brand heard offered at $38-$53/mt on Apr. 5, H2 April arrival, May pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard offered at $45-$60/mt on Apr. 5, H2 April arrival, May pricing according to trader source


April 04 2024

Platts Copper Cathode CIF China: Normal ER brand heard tradable at $50-$55/mt on Apr. 4, H2 April arrival, May pricing according to trader source


Platts Copper Cathode CIF China: EQ brand heard offered at $15/mt on Apr. 4, H2 April arrival, May pricing according to trader source


April 03 2024

Platts Copper Cathode CIF China: Normal ER brand heard tradable at $50/mt on Apr. 3, H1 April arrival, April pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard offered at $55/mt on Apr. 3, H1 April arrival, April pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard tradable at $50-$55/mt on Apr. 3, H2 April arrival, May pricing according to trader source


Platts Copper Cathode CIF China: EQ brand heard offered at below $10/mt on Apr. 3, H1 April arrival, April pricing according to trader source


Platts Copper Cathode CIF China: SX-EW brand heard offered at around $50/mt on Apr. 3, H2 April arrival, May pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard offered at around $60/mt on Apr. 3, H2 April arrival, May pricing according to trader source


Platts Copper Cathode CIF China: Normal ER brand heard tradable at $55/mt on Apr. 3, H2 April arrival, May pricing according to smelter source


Platts Copper Cathode CIF China: Normal ER brand heard offered at around $58-$60/mt on Apr. 3, H2 April arrival, May pricing according to smelter source


Platts Copper Cathode CIF China: EQ brand heard traded at $13/mt on Apr. 3, April loading, May arrival, May pricing according to trader source


April 02 2024

Platts Copper Cathode CIF China: Normal ER brand heard offered at around $50/mt on Apr. 2, H2 April arrival, May pricing according to trader source

Copper Cathode Premium CIF China

  • SX-EW brand cathode offers at $30/mt
  • Import losses widen
  • Chinese smelters' exports increase


Platts assessed the Chinese copper import premium at $32/mt plus London Metal Exchange cash, CIF China, April 17, for LME-registered normal brands of electrolytically refined cathode, down $18/mt from April 9 and down $3/mt on the day.

The Platts-assessed top ER brand differential was at plus $8/mt and the solvent-extracted/electrowon differential was at minus $5/mt.

Wider import losses have led to a decline in import premiums, while downstream demand has been under pressure from surging copper prices.

Very limited offers were reported for normal brand ER cathodes in the week to April 17 due to low market liquidity, while tradable values were heard around $30-$40/mt with May QP.

“I haven’t seen any [transactions or offers] recently and we don’t have any nearby arrival [volume] for sale now, while the earliest one is for May arrival," a smelter source said.

Another trader source said they did not quote in the market for forward cargoes as the market situation was poor.

For SX-EW brand cathodes, an offer was heard at $30/mt April 17, H2 April arrival, with May QP.

However, the tradable values were heard below $25/mt for these materials, with no inquiries from buyers heard.

EQ brand cathode was reported tradable at discounts to the LME price in the week to April 17.

The delays remained long in the South Africa ports with an average delay of about two weeks, according to a trader source.

Market players said Chinese smelters had increased exports in an attempt to ease the pressure from high inventories in China amid soft downstream demand.

They either chose to deliver to the LME warehouse or to the INE bonded area because they wanted to change the current arbitrage situation, market participants said.

“Delivering to INE is more convenient; even they cannot get subsidy, like [by] delivering to the LME warehouse, and it is important to open the arbitrage window as China is a net importer”, a smelter source said.

Platts is part of S&P Global Commodity Insights.

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