Codelco Seen Raising China Copper Premium to Nine-Year High
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Codelco, the world’s biggest copper producer, is poised to raise the fee it charges Chinese buyers to the highest since 2005 as demand increases in the world’s biggest user of the metal, a survey shows.
The surcharge added to the price of copper for immediate delivery on the London Metal Exchange may climb 38 percent to $135 per metric ton in 2014 from $98 this year, according to the median of 14 estimates from company executives, traders and analysts contacted by Bloomberg this week. Codelco has already increased the premium it charges European buyers by 32 percent.