SHANGHAI, Nov 2 (SMM) – Market participants said on Monday that the world’s largest copper miner Codelco will supply copper to Chinese customers with a premium of $105/mt in 2022. This is up 19.3% from this year's $88/mt.
As China is the world's largest copper consumer, this premium is an industry benchmark that has is widely focused on.
Due to the strong copper demand and extremely low inventories, the premium will continue the upward trend next year.
Market participants said that Codelco issued 2022 quotations to Chinese customers, including some state-owned enterprises, on Monday.
The spot copper premium offered by Codelco to European customers last month was $128/mt, the highest level since 2015 and an increase of more than 20% from 2021.
Subsequently, Codelco provided a copper premium to a South Korean customer of $100/mt, an increase of approximately 20% year-on-year.
![Pergantian kontrak melepaskan permintaan kaku; diskon di Tiongkok Utara menyempit dan naik [SMM Tembaga Spot Tiongkok Utara]](https://imgqn.smm.cn/usercenter/Dtcte20251217171710.jpg)
![Perbedaan harga besar antara kontrak berjangka pada hari pengiriman; perdagangan spot lesu [SMM tembaga spot Tiongkok Selatan]](https://imgqn.smm.cn/usercenter/EOMNB20251217171709.jpg)
![Harga Tembaga Tinggi dan Permintaan Melemah Meredam Antusiasme Produksi di Perusahaan Batang Katoda Tembaga [Analisis SMM]](https://imgqn.smm.cn/usercenter/TlzAr20251217171709.jpg)
